WASDE Report (January 12, 2022)

SUGAR: The U.S. sugar supply for 2021/22 is increased 94,689 short tons, raw value (STRV) as increases in production and beginning stocks are only partially offset by a reduction in imports. Louisiana cane sugar production for 2021/22 is increased by 144,333 STRV to 1,856,571 on industry reporting. The sugarcane harvest is finishing very strong with good reported sucrose content and will continue longer than usual into the second half of January. Beet sugar is increased by 7,650 STRV on small increases in sugar recovery and in sugarbeets for slicing. Beginning stocks are increased by 2,915 STRV on revisions made in the 2020/21 Sweetener Market Data for increased cane sugar production. Raw sugar imports entering under the 2020/21 TRQ that had been extended to December 31 were 55,060 STRV below what was expected last month. Imports entering under calendar year FTA TRQs were decreased by 5,149 STRV on less sugar entering before December 31 than had been allocated. Ending stocks for 2021/22 are now projected at 1,773,038 STRV, implying an ending stocks-to-use ratio of 14.37 percent, up from 13.60 last month. Mexico supply and use for both 2020/21 and 2021/22 are unchanged from last month.