The U.S. Department of Agriculture slightly lowered its forecast of domestic beet and cane sugar production in the current 2018-19 marketing year that ends Sept. 30.
It is reported by Baking Business.
Beet sugar production was forecast at 4,997 million tonnes, down 7,000 tonnes from March and down 282,000 tonnes, or 5%, from record outturn of 5,279 million tonnes in 2017-18. Refined cane sugar production was forecast at 4,063 million tonnes, down 36,000 tonnes from March but up 49,000 tonnes from 4,014 million tonnes a year earlier. Total sugar production for the current year was forecast at 9,06 million tonnes, down 42 457 tonnes from March and down 233,000 tonnes from record outturn of 9,293 million tonnes in 2017-18.
«U.S. sugar supply for 2018-19 is decreased 42,457 tonnes, based on processor-reported reductions to beet sugar production and cane sugar production in Florida», — the USDA said.
There were no changes made from March by the USDA for 2018-19 imports, including imports from Mexico at 897,000 tonnes, down 326,000 tonnes, or 27%, from 2017-18.
Total sugar supply was forecast at 13,93 million tonnes, down about 43,000 tonnes from March and down 515,000 tonnes, or 3,6%, from 14,445 million tonnes last year.
Total 2018-19 sugar use was forecast at 12,305 million tonnes, unchanged from March but down 133,000 tonnes from 2017-18, with deliveries for food at 12,125 million tonnes, unchanged from March but up 77,000 tonnes from last year.
There also were no changes made to estimated supply and use for 2017-18.
The closely watched ending stocks-to-use ratio was forecast at 13,2% for 2018-19, down from 13,6% as the March forecast and down from 16,1% estimated for 2017-18.