SUGAR: U.S. 2015/16 total sugar supply is increased 119,127 short tons, raw value (STRV) from last month to 13.975 million. Beginning stocks are increased by 69,127 STRV. Louisiana 2015/16 cane sugar production is increased 50,000 STRV, due to improved sugarcane yield as indicated in NASS’s November 2015 Crop Production. There are no changes to other sources of supply or to total use. Ending stocks for 2015/16 are projected at 1.855 million STRV, implying an ending stocks-to-use ratio of 15.3 percent. For 2014/15, complete-year Sweetener Market Data (SMD) indicates increased total production of 60,798 STRV; increased exports of 4,875; and increased deliveries of 12,219. Imports for 2014/15 are increased 25,423 STRV, based on USDA and U.S. Census Bureau estimates. Ending stocks for 2013/14 are estimated at 1.767 million STRV, and the 2013/14 stock-to-use ratio is 14.4 percent.
Mexico 2015/16 total sugar supply is increased 104,933 metric tons (MT) with a beginning stocks increase of 48,908 combined with an increase in production of 56,025. These changes were made after a review and adoption of new sweetener supply projections made by Mexico’s Comité Nacional Para El Desarrollo Sustentable de la Caña de Azúcar (Conadesuca). Conadesuca estimates beginning stocks at 810,709 MT and projects production at 6.056 million MT based on mill surveys. Conadesuca projects 2015/16 sweetener deliveries for human consumption at
5.885 million MT. Sugar deliveries are projected at 4.388 million MT (20,221 less than their 2014/15 estimate of 4.408 million) and high fructose corn syrup deliveries are projected at 1.497 million MT, dry weight (up 53,231 over their 2014/15 estimate of 1.444 million). These use projections are adopted, but export projections for 2015/16 are unchanged. The 2015/16 ending stocks are projected at 981,975 MT, implying an ending stocks-to-consumption ratio of 22.4
percent.