Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Mexico - 2023

Contents:

1. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Mexico (FOB) - 2023
2. Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Mexico (CIF) - 2023
3. Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Mexico
4. Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Mexico

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Mexico (FOB) - 2023

The average export price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose stood at $1,161 per ton in November 2023, almost unchanged from the previous month. In general, the export price recorded a strong expansion. Over the period under review, the average export prices attained the maximum in November 2023.

As there is only one major export destination, the average price level is determined by prices for the United States.

From August 2023 to November 2023, the rate of growth in terms of prices for the United States amounted to +7.1% per month.

Price for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Mexico (CIF) - 2023

In November 2023, the average import price for white sugar (containing >= 99,5% sucrose) and chemically pure sucrose amounted to $1,137 per ton, jumping by 17% against the previous month. Overall, the import price, however, recorded a noticeable downturn. The pace of growth appeared the most rapid in May 2023 when the average import price increased by 48% m-o-m. Over the period under review, average import prices hit record highs at $1,979 per ton in January 2023; however, from February 2023 to November 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In November 2023, the country with the highest price was the United States ($1,225 per ton), while the price for Guatemala totaled $848 per ton.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Guatemala (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Mexico

In 2022, shipments abroad of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose decreased by -28.6% to 158K tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 37% against the previous year. As a result, the exports reached the peak of 683K tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose contracted rapidly to $126M in 2022. In general, exports showed a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of 53%. As a result, the exports reached the peak of $300M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose from Mexico in 2022:

1. United States (149.6K tons)
2. Colombia (8.8K tons)

Imports of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose in Mexico

In 2022, purchases abroad of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose decreased by -70.9% to 7.9K tons, falling for the second consecutive year after two years of growth. In general, imports faced a dramatic descent. The pace of growth was the most pronounced in 2020 when imports increased by 74%. As a result, imports attained the peak of 90K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of white sugar (containing >= 99,5% sucrose) and chemically pure sucrose plummeted to $6.4M in 2022. Over the period under review, imports faced a precipitous contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 54%. As a result, imports reached the peak of $47M. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

Top Suppliers of White Sugar (Containing >= 99,5% Sucrose) and Chemically Pure Sucrose to Mexico in 2022:

1. Guatemala (5.7K tons)
2. United States (2.1K tons)
3. Colombia (0.2K tons)

Source: IndexBox Market Intelligence Platform