High prices mean sugar’s future is sweet

By 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 caneOriginal Image: "Sugarcane and bowl of sugar" byCSIRO, used under CC BY 3.0 license, via Wikimedia Commons.

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.

Sugar_CaneOriginal Image: "Sugar Cane" by P.K.Niyogi, used under CC-BY-SA-3.0 license, via Wikimedia Commons.

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.

sugar cane 276242

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.

sugar 1304500

RELATED NEWS

  • The final curtain call for the Ringling Bros. circusThe final curtain call for the Ringling Bros. circus
  • MD Elektronik Mexicana, a company with German capital, arrives in LeónMD Elektronik Mexicana, a company with German capital, arrives in León
  • Mexico’s Grupo Lala is lead bidder for Danone’s Stonyfield FarmMexico’s Grupo Lala is lead bidder for Danone’s Stonyfield Farm
  • IMF ratifies flexible credit line for $86 billion for MexicoIMF ratifies flexible credit line for $86 billion for Mexico
  • Nissan breaks sales record in MexicoNissan breaks sales record in Mexico
  • British Petroleum expects to grow its investment in Mexico´s energy sectorBritish Petroleum expects to grow its investment in Mexico´s energy sector
  • Shell and Exxonmobil to open gas stations this year in MexicoShell and Exxonmobil to open gas stations this year in Mexico
  • 29 countries to support China on the Silk Road29 countries to support China on the Silk Road
  • NissanNissan's 'Godzilla' arrives in Mexico
  • Hybrids are hot in MexicoHybrids are hot in Mexico
  • General Electric backs NAFTA and voices support for MexicoGeneral Electric backs NAFTA and voices support for Mexico
  • MexicoMexico's Secretary of Foreign Affairs keen to start NAFTA talks in U.S.
WATCH LIVE TV



Most Read Articles
Most Watched Videos
  • Generations Riviera Maya
  • Mayair