CNDSCA reports available stocks at the end of September at 0.96 MMT, down 6 percent YOY. Including certified stocks for export, all sugar carryout was down 8 percent YOY at 0.96 MMT—certified stocks are down nearly 87 percent YOY.

In the October WASDE, USDA cut Mexico’s 2022/23 production and exports both by 100,000 MT to 5.9 MMT and 1.40 MMT, respectively.

Yielding to seasonal support between harvests, reference pricing for both estandar and refined sugar has risen now for six straight weeks. Estandar pricing in the week of Oct. 10, was up 8 percent from the four-week average and up 25 percent YOY. Estandar was up 4 percent from the four-week average and up nearly 12 percent YOY.

Mexico monthly available sugar stocks

Source: CNDSCA, McKeany-Flavell
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