U.S. sugar prices made from sugarcane have surged to 6.8% in 2016 as need for beet supplies declined. As opposed to the world price, it fell to 5.6%. On Tuesday, the U.S. Department of Agriculture will bring up to date information on its crop production forecast, imports and use, reports Bloomberg.  

According to the president of Mexico's sugar chamber, Juan Cortina, U.S. sugar refiners are keen to have a renegotiation of the suspension agreements signed by U.S. and Mexico in December 14 allowing U.S. to import more standard sugar.  However, Mexico is not interested about the idea but can ship 300,000 to 500,000 tons of standard sugar to their refineries without any change in the suspension deal where the two nations created quotas and minimum sales price, as reported by Reuters.

Meanwhile prices of sugar in EU had fallen to more than 40% during the past three years, adding to the current low world prices. The global sugar prices also appears to be bottoming out, although analysts say that could be reversed by the deregulation in the European Union of its sugar market based on the Financial Times report.

Mexico's shipment of raw sugar to the U.S. will give refineries relief as well as the consumers as more buyers are aware of GMO crops like beets that could put health at risk.