Mexico: Sugar Semi-annual
Mexican sugar exports for MY 2018/19 are forecast to increase to 1.7 million metric tons raw value (MMT-RV) on a production surplus, resulting in an unprecedented increase in export certificate guarantees through the Master Trust for the Exportation of Sugar Surpluses Program. Industry was anticipating additional announcements of U.S. sugar quotas to cover the remainder of uncommitted supplies, but this did not occur. Under the terms of the Trust, all sugar must be exported by December 31, 2018. Sugar consumption is revised lower in MY 2018/19 to 4.60 MMT-RV due to consumer health concerns, a preference for less-caloric food products, and continued deterioration of purchasing power due to high inflation. Mexican sugar production for marketing year 2018/19 is forecast to reach 6.4 MMT-RV due to favorable weather conditions and strong yields.
