USDA sees higher beet sugar production
The US Department of Agriculture in its Aug. 12 World Agricultural Supply and Demand Estimates report raised from July its forecasts for US sugar supply for both 2021-22 and 2022-23, resulting in higher ending stocks and stocks-to-use ratios for both years.
It is reported by foodbusinessnews.
The USDA projected 2021-22 (current year) ending stocks at 1,828,000 tonnes, up 46,000 tonnes from its July forecast, boosting the ending stocks-to-use ratio to 14.3% from 14%. The increased supply was the result of a 47,000-ton increase in high-tier imports, forecast at a record 325,000 tonnes. Beet sugar production was lowered 1,000 tons, to 5,155,000 tonnes.
For 2022-23, which begins Oct. 1, the USDA projected beet sugar production at 5,138,000 tonnes, up 203,993 tonnes from July based on forecast higher sugar beet yields. Cane sugar production was unchanged at 4,013,000 tonnes.
Ending stocks in 2022-23 were forecast at 1,814,227 tonnes, up 249,762 tonnes from July, with the ending stocks-to-use ratio at 14.32%, up from 12.35% in July.
Mexico’s sugar production in 2021-22 was estimated at 6,185,050 tonnes, actual weight, up 5,237 tonnes from the July estimate based on end-of-season CONADESUCA estimates. Exports were estimated at 1,794,000 tonnes, up 5,237 tonnes, resulting in ending stocks of 947,000 tonnes, unchanged from July. There were no changes from July in supply or use projections for 2022-23 with ending stocks also projected at 947,000 tonnes.