The hotly awaited ruling, which had been expected by the second half of May, will not be released by the Geneva-based WTO's dispute settlement panel until June 15th, said the source, who works closely with Mexico's top trade negotiator Luis de la Calle.

"The final ruling has been delayed by the WTO; there is no particular reason why, but it won't be released until June 15th," said the source. "We are very excited and have a lot of confidence," he added.

The dispute first broke out in June 1997 when Mexico slapped preliminary anti-dumping duties on U.S. high fructose corn syrup imports.

Mexico imposed final anti-dumping duties from $55.37 to $175.50 per metric ton on different grades HFCS imports from the U.S. in January 1998, following a government probe into complaints by the Mexican Sugar and Alcohol Chamber that U.S. corn refiners exported fructose at below-market prices.

The U.S. Corn Refiners Association, furious about what it claimed was a protective barrier and against free trade practices, complained to the U.S. Trade Representative's office, which took the case to the World Trade Organization.

WTO trade legislation states that for a country to apply anti-dumping duties, a country must prove that not only did dumping occur - that goods were exported at prices below the local market price - but also must prove that the size of dumping is of such volume that it causes injury to the local "like-industry," here, the Mexican sugar industry.

The WTO ruled in its first decision on the case in January 2000 that Mexico's initiation of the anti-dumping investigation was "consistent" with WTO regulations, but that Mexico's methods in imposing anti-dumping duties on HFCS imports from the U.S. were "inconsistent."

The WTO ruled that dumping did occur, but ordered Mexico to revise the study that determined the size of injury to the Mexican sugar industry. It is to be based on both industrial use and household consumption.

The WTO, however, didn't rule in its final report that Mexico should cease using the anti-dumping order, but said that Mexico should "bring into conformity" the antidumping order with WTO regulation. A new WTO panel has been reviewing the revised anti-dumping dispute.