The No.16 is mostly used to hedge raw sugar imports under the Mexican quota and Tariff Rate Quotas (TRQs). Therefore, the recent highs could be because the buyers (the refiners) have hedged their exposure, knowing a certain amount of sugar would be coming their way from Mexico, but sellers in Mexico have not started selling into this yet. On the other hand, the market also needs to make sure TRQ imports are still competitive for importing countries, especially with the rise in the No.11.