WASDE Report (October 11, 2024)

SUGAR: U.S. sugar supply for 2023/24 is decreased by 47,192 short tons, raw value (STRV) to 14.894 million on production decreases only partially offset by an increase in imports. Beet sugar production is decreased by 41,743 STRV to 5.117 million on lower August and September production. Cane processors in Louisiana estimate their September production down by 26,078 STRV due to weather-related delays associated with Hurricane Francine. Net imports are up 20,629 STRV as increased high-tier tariff raw imports are only partially offset by lower TRQ entries and re-export imports. High-tier tariff raw sugar imports for the year are estimated at 886,539 STRV (up 62,159); high-tier refined at 289,483 STRV (same as last month); and sugar from imported molasses at 56,161 STRV (same as last month). Use is unchanged and ending stocks are at 2.231 million STRV for an ending stocks-to-use ratio of 17.6 percent.

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