SUGAR: U.S. sugar production for 2015/16 is projected at 8.991 million short tons, raw value (STRV), an increase of 181,104 over last month. Beet sugar is projected 82,775 STRV higher at 5.158 million based on higher processor estimated sucrose content. Florida cane sugar production is projected 133,329 STRV higher at 2.073 million based on the NASS forecast of sugarcane for sugar and processors’ projected recovery. Louisiana cane sugar production is reduced 35,000 STRV to 1.465 million based on the harvest pace to date and planned harvest end dates.
Imports from Mexico for 2015/16 are reduced by 207,902 STRV to 1.333 million, and deliveries for human consumption are increased by 170,000 to 11.955 million based on final direct consumption import data and full-year alternative sweeteners data. Ending stocks are projected at 1.659 million STRV, implying an ending stocks-to-use ratio of 13.5 percent. Mexico 2014/15 sugar imports are estimated at 128,235 metric tons (MT), a reduction of 23,682 from last month based on end-of-year government import reporting. Sugar exports to the United States for 2014/15 are estimated at 1.311 million MT, a reduction of 15,250. This is based on a correction to U.S. import data by the Foreign Agricultural Service for a known revision in shipment data that will not be revised by the U.S. Census Bureau until a later date. Sugar deliveries to the IMMEX sugar-containing products export program are estimated at 336,797 MT, an increase of 12,971 based on government reporting. This estimate is carried forward for the 2015/16 projection. For 2015/16, exports to the United States are projected at 1.140 million MT, down 177,929 based on changes made in the December 2015 sugar WASDE for the United States as per the Countervailing Duty (CVD) Suspension Agreement of December 19, 2014 (“Target Quantity of U.S. Sugar Needs”). Ending stocks for 2015/16 are forecast residually at 1.147 million MT implying an ending stocks-to-consumption ratio of 26.14 percent.
Source: USDA WASDE
Source : USDA WASDE