• 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.
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  • 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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Vincent O’Rourke

Vincent began his career at CZ in 2016 as an analyst in the London Office, focusing on raw sugar flows and the Refineries in North Africa and the Middle East. Since 2019 Vincent has moved to the Miami office, leading the Americas analysis (excluding Brazil) and implementing the new data capture and database processes. Vincent graduated from Edinburgh with a master’s in theology in 2015 and completed a Masters in Emerging Economies from King’s London University in 2016

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