Central American trade slow as prices fall
Published: 03/04/2010, 7:33:03 AM
Physical trading remained slow this week in the cash sugar markets of Colombia, Mexico and Central America as international prices continued to weaken, according to Dow Jones.
Traders said focus remained on activity in Guatemala, Central America's largest producer and exporter, which is at the peak of harvesting and milling.
Mexican traders and importers, struggling with a growing shortfall in the local harvest because of weather that has delayed the crop and resulted in poor yields, were reported particularly active in the Guatemalan market.
"There has been a lot of Mexican buying here in the last few weeks, and as the harvest continues to be poor, we are seeing the buying interest picking up day by day," said one exporter in the Guatemalan capital.
Cash differentials for bids and offers from most origins in the region against New York futures prices were quoted at modest discounts, mostly unchanged from week-ago levels.