Mexico suspends sugar export permits to US

India Infoline News Service | Mumbai | March 08, 2017 14:17 IST

Mexico sugar chamber has suspended the sugar export permits of mills for exports to the United States.

Mexico sugar chamber has suspended the sugar export permits of mills for exports to the United States.
 
The move is anticipated to be triggered by conflict over the pace of shipments owing to the absence of US counterpart for discussions with Mexicans sugar chamber.
 
However, Mexico's Economy Ministry states that cancellation of permits is due to crossing of the limit of exports fixed for six months up to March 31. The export limit was touched before stipulated time.
 
The suspension of permits comes as a blow to cane refiners, who are already struggling with prices and tight supplies.
 
Already the trade relations between the United States and Mexico have soured after U.S. President Donald Trump has expressed his plans to revise the North American Free Trade agreement, as it is skewed in favour of Mexico according to him.
 
In raw sugar futures contract on Intercontinental exchange closed at 31.71 cents per pound on Tuesday, the highest in last five years.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.