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Mexicans consuming more sugar despite rising prices, report finds

09/28/2022 | 11:25am EST

MEXICO CITY, Sept 28 (Reuters) - Sugar consumption among Mexicans continues to rise despite higher prices, a report showed on Wednesday, as Latin America's second-largest economy struggles against inflation at a near 22-year high.

The report by supply chain services provider Czarnikow showed that sugar consumption in Mexico is on the rise and expected to reach 4.5 million tonnes in 2022/23, the highest since 2018.

This increase comes even as consumers switch to generic goods or stop buying some products altogether to save money, the report said.

Mexican consumer prices rose 0.41% in early September, more than expected, official data showed. Annual inflation in Mexico hit 8.76%.

President Andres Manuel Lopez Obrador last week said he had reached an agreement with companies to maintain prices of basic food items.

The report found that many consumers are continuing to purchase the same quantities of basic goods, including sugar, but looking towards generic brands to save money.

Sugar demand among industrial consumers was also strong, despite consumers cutting back on brand name products. (Reporting by Cassandra Garrison Editing by Marguerita Choy)


ę Reuters 2022
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