By Zoila Palma: Mexico has introduced a steep new tariff of 156% on all sugar imports in a move aimed at stabilizing local prices and protecting domestic producers amid falling international sugar prices, Reuters report.
The measure, published in the country’s Official Gazette and signed by President Claudia Sheinbaum, applies to all forms of sugar, including beet sugar and syrups, while refined liquid sugar will face an even higher tariff of 210.44%. Previously, imported sugar was taxed between $360 and $390 per ton.
The decision comes as Mexico seeks to prevent an oversupply in the domestic market after three consecutive years of increased sugar imports caused by poor weather and declining local output.
“This tariff scheme provides greater protection for domestic product,” said Carlos Blackaller, head of Mexico’s main sugarcane producers’ organization. He added that the move would “practically eliminate” sugar imports and support better prices for local producers during the 2025/26 sugar season, which has just begun.
Mexico, which typically produces about 5 million tons of sugar annually, consumes roughly four million locally and exports the remainder, mainly to the United States.
Production for the 2025/26 cycle is projected to rise to 5.2 million tons, up from 4.7 million in the previous harvest.
However, Mexico’s current export quota to the U.S. remains limited at just 188,000 tons, prompting officials to prioritize stabilizing the local market.
The post International News: Mexico imposes 156% tariff on sugar imports to protect domestic industry appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: Mexico has introduced a steep new tariff of 156% on all sugar imports in a move aimed at stabilizing local prices and protecting domestic producers amid falling international sugar prices, Reuters report. The measure, published in the country’s Official Gazette and signed by President Claudia Sheinbaum, applies to all forms of sugar,
The post International News: Mexico imposes 156% tariff on sugar imports to protect domestic industry appeared first on Belize News and Opinion on www.breakingbelizenews.com.
