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Guatemala opens first-ever sugar import quota to fill supply gap widened by smuggling into Mexico

Friday, August 12, 2011

\ Guatemala, a major sugar exporter, announced its first-ever sugar import quota to fill a supply gap caused by a smaller harvest and sugar smuggling into neighboring Mexico.\ \ Guatemala is losing around 40,000 tonnes of sugar each year as smugglers ferret the sweetener illegally across the border to Mexico where they can fetch higher prices, the Economy Ministry said.\ \ That adds to supply worries as Guatemala expects less sugar output after cane fields were battered by heavy rains last year.\ \ Original source: Reuters\ \ \ \ \