The U.S. exported over 666,250 MT (dry weight) of HFCS-55 to Mexico last year, about the same volume as exported in 2021 and 86 percent of total 2022 HFCS-55 exports. On a per-pound basis, HFCS-55 exports to Mexico in 2022 averaged higher than 2021’s [...]
USDA’s Sugar Outlook is forecasting 2023/24 carryout at a three-year low—still above carryout in 2019/20, a nine-year low. This early 2023/24 outlook assumes a rebound in beet production based on historical averages of processing yields and pile shrink and on beet acres lost with [...]
At the start of this week, pricing is flat from the previous week but down almost a point from the four-week average for both estandar and refined. In August, the Ministry of Economy announced that initial export quotas to the U.S. will total 657,153 [...]
Mexico’s crush campaign remains strong, with harvest area up nearly 11 percent YOY and up 8 percent from the five-year average. Cane crush is up even more strongly, up 15 percent YOY. With sugar recovery also up, total 2020/21 production reached 2.826 MMT as [...]
November’s average reference pricing for estandar fell 1.9 percent from pricing in October, while refined pricing gained slightly, up 0.3 percent from the October average. Year on year, estandar and refined references prices are up 21 percent and 23 percent, respectively. Through the eighth [...]
With refined sugar remaining tight in Mexico, the price divergence trend continues. Estandar pricing was down almost half a percent last week and down slightly more from the four-week average. Refined, meanwhile, was flat week on week and up 0.6 percent from its four-week [...]
For the week ending Sep. 18, the average reference price for Mexico estandar sugar rose 1.4 percent from a month prior and averaged up 28 percent YOY. Refined price was up almost 1 percent for the week and up 25 percent YOY. For Sep. [...]
In the April WASDE, USDA increased Mexico’s sugar production by 35,000 metric tons, to 5.235 MMT, and increased U.S. imports from Mexico by 34,000 short tons raw value, to 1.199 million STRV. USDA’s current estimate is realistic if Mexico’s sugarcane harvest stops in late May, [...]
