The FAO food price index closed the year with an increase of 8% compared to 2016, the highest annual average since 2014, although it is still 24% below the maximum levels reached in 2011.
From the monthly report on the FAO food price index:
The FAO Food Price Index* (FFPI) averaged 169.8 points in December 2017, down 5.8 points (3.3 percent) from November with the steepest declines registered in the prices of dairy, vegetable oils and sugar while those of cereals and meat also fell but only slightly. For the whole of 2017, the FFPI averaged 174.6 points, up 8.2 percent from 2016 and representing the highest annual average since 2014 although still 24 percent below the 2011 high of almost 230 points. While sugar values plummeted in 2017, dairy and meat prices registered sharp year-on-year increases and those of cereals and oils rose too, albeit more modestly.
Last year, 2.3 million tons of bagasse were used to generate energy, and production is expected to be even higher this year.
The National Committee of Sugar Producers (CNPA) expects that the generation of energy using cane bagasse will be maintained in the medium term, since they predict good results for the production of cane. Last year, 2.3 million tons of bagasse were produced, which were used to generate energy, and this year they expect production to be even higher.
Production from the 2016-2017 cycle amounted to 2.7 million metric tons, 4% less than the previous cycle, but the next is projected to reach 2.9 million metric tons.
Figures from Banco de Guatemala show that in the first semester the exported volume of sugar fell 8%, and $561 million were generated.
Luis Miguel Paiz, general manager of the Sugar Association of Guatemala (Asazgua), explains that "...
In 2016, bananas were the agricultural product that generated the most export revenue in Central America, with sales of $2.4 billion, corresponding to 5.7 million tons.
Data from the interactive system Monitoring of Crops in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the graphic"]
The new trade agreement increases the export quota of sugar to 60 thousand tons, and eliminates the export tariff of bovine offal to the Asian island.
Laprensa.com.ni explains that "...The expansion was agreed at a meeting between the delegations of the two diplomatic allies, headed by the general director of the BOFT, Yang Jenni, on the Taiwanese side, and his Nicaraguan counterpart, Cristian Martinez, held on Thursday."
84 thousand hectares of crops were flooded and 67 thousand kilos of trout and tilapia, 24 thousand hens and about 7 thousand tons of sugar were lost because of storm Nate.
The impact of the climate phenomenon was felt in most agricultural activities in the country, and although shortages are not foreseen in sectors such as rice and sugar, in others supply could be affected in the coming months.
Between 2012 and 2016, exports to Canada almost doubled, raising from $55 million to $101 million, making it the main destination for Guatemalan sugar.
Figures from the information system on the the Sugar Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the graph"]
The guild foresees closing the 2017/18 cycle with a production of more than 17 million hundredweight of sugar, which would represent a 10% increase compared to the previous cycle.
If expectations by employers in the sugar guild are met, production from the 2017/18 cycle would be the best achieved yet.Favorable climate conditions and the expected expansion of sowing areas, from 105 thousand to 109 thousand manzanas, are the reasons for the guild's expectations for the cycle that begins next month.
Five Asian countries bought more between January and July of this year than was acquired in all of 2016.
The trade agreement between El Salvador and Taiwan, in force since 2008, has made it the gateway for Salvadoran sugar in Asia, according to the president of the Sugar Association of El Salvador (AAES), Mario Salaverría.
Cane producers and workers from the four mills operating in El Salvador are those who will be able to purchase part of the shares that Corsain has already put up for sale.
The Salvadoran Investment Corporation (Corsain) published the conditions of sale of its share in the capital stock of four sugar mills, with which it aims to raise about $27 million.
In August, the FAO food price index fell by 1.3% compared to July, due to lower prices for cereals, sugar and meat, which offset increases in dairy and vegetable oils.
From a report by the FAO:
The FAO Food Price Index* (FFPI) averaged 176.6 points in August 2017, down 2.3 points (1.3 percent) from July, but still 10 points (6 percent) above its value a year earlier.
The Asian country increased duty free sugar import quotas from 60 thousand to 80 thousand metric tons, and granted an additional quota to import a thousand kilos of dry fruit.
From a statement issued by the Embassy of Taiwan in El Salvador:
The Second Administrative Meeting of the Free Trade Agreement between Taiwan and El Salvador was held in Taipei, Taiwan, under the efforts of both countries, closing the round of meetings with much success and achievement for both countries who took a step forward in strengthening bilateral trade.
In search of fresh resources, capital shares in sugar factories and plants held by Corporación Salvadoreña de Inversiones will be sold to private companies.
The aim of the Sánchez Cerén administration is to part with its shares and obtain fresh resources to pay off debts amid the liquidity crisis it is facing.The decree approved by the Legislative Assembly"... establishes a deadline up until October 10 for Corsain to be able to gradually sell the shares it owns, which could be worth about $23 million."
From August 22 to 25, companies from the sector will be gathering together in San Pedro Sula to participate in business roundtables and discuss topics relevant to the sector.
The Congress of Sugar Technicians of Central America will be held at the Copantl Hotel Convention Center in San Pedro Sula. Business roundtables will be held and international experts will be giving talks on topics of interest to the sector, such as the effect of climate change on sugar production, use of technology, production costs, among other things.
Total production from the 2016/17 harvest surpassed 15.6 million hundredweight, registering an increase of 18% compared to the previous harvest.
Figures from the National Committee of Sugar Producers show that the production of the San Antonio sugar mill was 7 million hundredweight, followed by Monte Rosa with 6.3 million, Benjamin Zeledon with 1.3 million and Montelimar with 1.2 million hundredweight of sugar.