Central American trade picks up pace
Published: 03/18/2010, 11:39:09 AM
Physical trading was modest this week in the cash sugar markets of Colombia, Mexico and Central America, but shipments continued at a busy pace across the region, according to Dow Jones.
Traders said Guatemalan exports to Mexico continued to get most of the attention as local middlemen from the Mexican market continued to buy aggressively amid a growing local shortfall.
"There have been so many Mexican traders coming down here, we continue to get a lot of interest as the crop just doesn't seem to be improving," said one physicals trader with a leading sugar group in Guatemala.
Cash differentials for bids and offers against New York futures prices from most origins in the region appreciated by 1 to 2 cents per pound against the weaker futures prices but were still mostly quoted at modest discounts.