August 11, 2023

SUGAR: Mexico sugar supply for 2022/23 is increased by 125,000 metric tons (MT) to 6,388,512 on an increase in imports. Sugar stocks have decreased substantially in both May and June driving domestic prices to historically high levels and incentivizing high-tier tariff imports. Official trade data showing sugar exports to Mexico are currently at 112,531 MT through May with 4 months to go in 2022/23. Relatively low Mexico production of low polarity sugar at 730,207 MT limits total exports under license to 1,043,153 under Suspension Agreement provisions that requiring low polarity exports to be at least 70 percent of the total. Exports apart from those under license are at 21,860 MT. Ending stocks are unchanged providing enough sugar to supply domestic needs for 2.3 months. Deliveries into IMMEX are increased by 86,613 MT to 359,113.

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Feb 6-8, 2020
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