WASDE Report (April 9, 2021)

SUGAR: U.S. sugar supply and use for 2020/21 is unchanged from last month, with small offsetting changes within the balance sheet. An increase in projected imports is offset by a reduction in production, and there are no changes in use. High-tier imports are projected to increase 30,000 STRV to 200,000 on the strong pace set in the first half of the fiscal year and on oversubscribed imports of organic sugar beyond the remaining tranche that adds to sugar already being stored in bonded warehouses. The USDA has been unable to receive confirmation of media reports of decreased export potential in certain raw sugar TRQ countries that would imply an increase in the raw sugar TRQ shortfall. Cane sugar production in Florida is reduced 30,000 STRV to 2.170 million based on recent processors’ reports which indicate lower sucrose recovery and lower area harvested. Ending stocks remain at 1.848 million STRV for an unchanged stocks-to-use ratio of 15.1 percent. There are no changes to the Mexico supply and use for 2020/21.