November 12, 2018
Sugaronline | https://goo.gl/AuuCEA
Nicaragua's sugar industry has positive expectations regarding the 2018/19 season, aiming to produce 17.6 million quintals of sugar, despite a drought and a social-political crisis affecting the country, according to La Prensa news website.
“We believed that production would be lower this year due to the problem of drought and the context of political, economic and social instability that Nicaragua faced from April to July,” said Mario Amador, general manager of the national sugar production association.
One of the main problems that the sector has had in the last two years has been a drop of 5% in local demand, according to Amador.
About 6 million quintals of sugar is expected to be consumed in the local market this year and the rest will be exported.
The sugarcane season in Nicaragua extends from November to May, an activity that generates more than 4% of the country's Gross Domestic Product (GDP).