New York: On Friday, analysts and supply chain services provider Czarnikow projected that Mexico’s sugar production in the 2023-24 season (Oct-Sept) is expected to decline by 15% compared to the previous crop, reaching 4.7 million metric tons – the lowest volume recorded in the last decade.
Czarnikow’s analyst, Stephanie Rodriguez, attributed this decline to the poor development of Mexico’s sugarcane crop during the season, primarily caused by insufficient rainfall. The unfavorable conditions led to low cane volumes per hectare and suboptimal industrial yields during processing.
Rodriguez noted in a report, “With lower sugar production, Mexico will have to resort to importing sugar, echoing patterns observed in the previous season.” She anticipated that Mexico would likely seek sugar imports from Central American producers, such as Guatemala, Honduras, and El Salvador, to meet its export quota to the United States.
