- Guatemala has exported 236k tonnes of refined sugar so far this season.
- 155k tonnes of this is breakbulk, meaning Guatemala has already exported 60% of its availability here.
- We think it will export 850k tonnes of refined sugar in total this season.
Is Guatemala’s Export Pace Particularly Quick?
- Guatemala has exported 30k tonnes more refined sugar than it had done this time last year.
- This is interesting as its cane harvest was delayed after November’s hurricane.
- Delayed harvests usually lead to slower shipments as less sugar is available early on in the season.
- However, a large volume was delivered to the December expiry, regardless of the delays.
- Deliveries to the December whites expiry must be breakbulk, which gives us an indication of what was part of that delivery and what was not.
- This quick start means the mills won’t have a significant amount of sugar to deliver to the forthcoming March expiry.
- And if this export pace continues, Guatemala’s refined sugar availability will be tight come the end of the season.
Where Has This Sugar Gone?
- 130k tonnes of Guatemala’s refined has gone to African homes; especially that in breakbulk vessels.
- 16k tonnes are yet to be declared and currently loading at Puerto Quetzal.
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