2024-07-13 05:37:29
Until the month of May, our country records the lower sugar production of the last ten years, warned the Agricultural Markets Consulting Group (GCMA).
He explained that the national sales of the mills accumulated until the fifth month of the year amount to 2.27 million tons, 600 thousand less than last year and it is understood that these same ones have already been replaced by imports.
The consultancy specialized in agro-foods projected that the production of the spring-summer cycle will close in 4.69 million tonswhich would be the lowest in the last three years, “in these weeks the harvest ends in the Mexican sugar mills,” he said. Juan Carlos Anayapresident of the GCMA.
He anticipated that the volatility of the exchange rate and the fall in domestic prices of the sweetener stop imports that pay tariffs by presenting an economic risk for the importer.
Anaya indicated that the quota of USA On sugar it will remain at 484 thousand physical tons, since imports have increased the surplus, which would be around 290 thousand tons above the optimal inventory.
That is, even though Mexico is managing to have less of its own sugar there is an oversupply due to the entry of said food from other countries“However, this (surplus) will be necessary for next year, when production similar to the current cycle is expected.”
He added that national sales prices have been decreasing due to the pressure exerted by imported sugar on the market, which arrives both through the via legal who pays the tariff of 360 dollars metric ton, As a result of technical and illegal smuggling, the fall in prices is expected to continue for the time being.
An analysis of sugar production in the Agricultural Markets Consulting Group revealed that while in 2023, Mexico reached 5,224 million tons, this 2024 it will barely reach 4,690 million tons.
Veracruz, Jalisco and San Luis Potosi, They are the three states in the national territory with the highest sugar production, last year alone they had a cumulative production of 1,982,000 tons, 677,000 tons and 528,000 tons, respectively.
This is a drop in harvest of cane of sugar close to 4% of what was reported in 2023, said Juan Carlos Anaya.
Finally, it was added that the price of the sweetener suffered an increase of up to 22% so far this year for the final costumer, being one of the basket products with the greatest impact this semester.
A monitoring revealed that while the kilo of sugar during June 2023 was at 30 pesos, a year later it reached 100 pesos. 37 pesos in the same period.
The monthly price increase was 2.3% going from 36 pesos per kilo in May to 37 pesos in Juneaccording to average figures of the Attorney General’s Office Federal Consumer located until the first half of June.
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2024-07-13 05:37:29