WASDE Report (May 12, 2022)

SUGAR: U.S. sugarbeet production for 2022/23 is projected at 33.652 million tons with yield forecast at 30.23 tons/acre and area harvested projected at 1.113 million acres. Assuming average regional levels of beet pile shrink and slicing recovery, beet sugar production for the August-July crop year is projected at 4.922 million short tons, raw value (STRV). Sugar production from the 2022 crop in the August-September period is projected at 600,000 STRV, a drop of 78,461 from last month due to a very slow pace of plantings this year. The net effect of August-September production projected for both 2022 and 2023 (5-year average of 678,461) is to increase fiscal year 2022/23 production over the crop year to 5.000 million STRV. While beet sugar production for crop year 2021/22 is only marginally changed based on processors’ data, the fiscal year 2021/22 total is reduced to 5.254 million due to the lower anticipated production in 2022 August and September. Cane sugar production for 2022/23 is projected at 4.040 million STRV. Production levels in Florida, Louisiana, and Texas are expected to be close to 2021/22 levels. For 2021/22, Florida cane production is increased by 4,358 STRV to 1.942 million on processors’ reporting.