Imports of HFCS from the United States have not only displaced Mexican sugar, but also caused the closure of at least one Mexican refinery, according to Juan Cortina Gallardo, president of the National Chamber of Sugar and Alcohol Industry (CNIAA).
US-Mexico sugar trade pact under scrutiny amidst challenge by refiners [Registered]
A US-Mexico sugar trade deal signed just under two years ago may not be working as intended, the US Department of Commerce said recently after conducting a months-long review.
US trade commission approves contentious US-Mexico sugar trade pact [Registered]
The commissioners voted 6-0 in favour of the agreement. ITC effectively rejected challenges from two US refiners, Louis Dreyfus Commodities’ Imperial Sugar Co and AmCane Sugar LLC, that they would be harmed by the agreed-upon restrictions. The domestic refiners pointed out that the deal will restrict raw-sugar supplies, and the price floors may reduce their margins.
Monthly Snapshot
Raw sugar for March delivery settled at 19.82 cents/pound on January 18 after reaching a two-and-a-half-week high earlier in the session at 20.25 cents. The white sugar contract expiring in […]
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