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Mexico: Sugar industry closed 2014-15 with fall harvest 10%

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MEXICO CITY Waiting for the final position of the US government regarding sugar imports from Mexico, is estimated to produce sugar industry during the 2014-2015 harvest a total of 6.3 million tonnes, up from six million the previous cycle, but still 10 percent below the 2012-2013 milling was 7 million tons.

The season just started recording an advance of 271 thousand tons of sugar and continue incorporating mills for production work, so if the weather and technological support from the government fail to be effectively implemented, there would be drawbacks to see better production than the previous cycle, considered God Juan Ramirez, chief economist at consultancy Zafranet.

It is expected that during this harvest will be 51 mills that activity, in addition to a positive outlook for the agribusiness who lived a difficult year by falling prices in both the domestic market and international market looms.

According to figures estimated the sugar balance, initial inventory of just over 830,000 tonnes of the sweetener domestic supply would reach 7.14 million tonnes, 4.7 percent below the record of last year.

He considered that this sugar cycle manufacturers have to promote sales between industrial food and drinks and urgently seek to increase exports towards other destinations outside the NAFTA market, because in the preliminary agreement with US calculates a maximum export 1.5 million tons.

“The challenge will be great because the international market has a high price volatility and is dominated by several major exporters such as Brazil, India, Australia and Thailand,” he said.

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