Salvadoran Sugar Exports Grow by 12.4% and Maintain an Upward Trend.

El Salvador’s sugar exports continue to rise, with the country experiencing a 12.4% increase in sales during the first five months of this year. According to the data from the Central Reserve Bank (BCR), total sales reached $146.7 million between January and May 2023, showing a significant growth compared to the same period last year.

In terms of volume, El Salvador successfully marketed 6,900 quintals of sugar during the first five months of this year. The average cost per quintal was $21.26, as reported by the BCR.

The state bank attributes this surge in international sales to the positive reception of El Salvador’s sugar in 16 different destinations worldwide. Among the key consumers are the United States, Canada, Haiti, Spain, Peru, the United Kingdom, and Taiwan.

With the accumulated figures up to May, El Salvador is nearing its total sugar sales for 2022, which amounted to $194.9 million. This represents a 3.5% increase compared to the previous year.

In response to this promising situation, the Salvadoran Sugar Association (AAES) stated in an interview with Diario El Salvador that the industry has made significant progress in exporting 425,000 metric tons of sugar, across all its presentations including bulk raw sugar, brown sugar, refined packaged sugar, and consumer-ready sugar. Additionally, the report highlights that, based on the data from the first five months, there are still 80,000 metric tons of sugar pending export from the estimated total for the 2022/2023 harvest.

The growth in sugar exports is a positive sign for El Salvador’s sugar industry, as it demonstrates the country’s ability to meet global demand and maintain a competitive position in the international market. With the industry’s ongoing efforts and favorable market conditions, it is expected that El Salvador’s sugar exports will continue to thrive in the coming months, contributing to the country’s economic growth and stability.