High prices mean sugar’s future is sweetBy Elliot Bullman
The Mexican sugar industry expects 2017 to be a good year as prices remain at historical highsand the upcoming harvest is expected to be close to 7 million tonnes.
Sugar production represents 3% of Mexico’s GDPand employs over 2 million people in 16 states,both directly and indirectly.
Sugar union leader Adrián Sánchez said that producers expect to obtain 6.4 million tonnes of sugar by the end of this year’s harvest, bringing the industry closer than ever to itsgoal of surpassing 7 million tonnes.
The union leader saidthe industry is committed to boost productivity, efficiency and timeliness.
A considerable percentage, 2 million tonnes of the season’s production is expected to be exported to the United States. It is a number thatvaries widely, explained Sánchez, “from 500,000 to 1.2 million tonnes.”
Sugar issued an open call toend speculation about how bad a Donald Trump presidency would be for Mexico, urgingall sectors of the economy to work together insteadto confront any negative outcome.
Sánchez believes that if the North American Free Trade Agreement (NAFTA) is to be renegotiated, a clear mechanism should be set in place to determine how much sugar is to be exported.
Otherwise, the import of American fructose will continue to negatively affect the domestic market.
- Southwest Airlines inaugurates new international route to Cancun from New Orleans
- The Federal Aviation Administration has ordered airlines to inspect certain older CFM56-7B turbofan engines.
- North Korea 'halts missile and nuclear tests', says Kim Jong-un
- Frida Kahlo Barbie doll banned from shop shelves in Mexico
- NAFTA meeting on tap; Mexico doesn’t want to be used to elude US tariffs
- Mexico is second on world’s best places to retire list
- New video editing trend could be the future of ´fake news'
- Trump says North Korea talks under way but he may not meet Kim Jong-un
- Mexico’s candidates are avoiding talking about the elephant in the room: Pensions
- Elon Musk just sank more than $100 million into The Boring Company
- Netflix is soaring after it crushed subscriber growth targets yet again
- Starbucks: Protesters call for boycott after black men arrested