February 8, 2018

SUGAR: Total sugar supply for 2017/18 is decreased by 57,469 short tons, raw value (STRV). Cane sugar production for 2017/18 is reduced 44,356 STRV to 4.011 million. Based on industry reporting, processing in Louisiana continued later than usual into late January, and production for the crop year totaled 1.859 million STRV, up 38,644 from last month. This gain is more than offset by a processor-forecast reduction in Florida cane sugar production of 83,000 STRV. Beet sugar production is reduced by 37,800 STRV to 5.219 million. Although the sucrose recovery from sliced sugarbeets in December, as reported in Sweetener Market Data (SMD), is down significantly from the previous month, most of the reduction is expected to be made up based on processor-sourced information. Increased beginning stocks of 24,687 STRV offset some of the reduced production, as 2016/17 imported sugar originally recorded as a direct consumption import was revised in SMD as raw sugar imported by a refiner.

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