February 9, 2021

SUGAR: U.S. sugar supply for 2020/21 is increased 215,644 short tons, raw value (STRV) to 14.333 million on projected
increases in production and imports. Beet sugar production is increased 53,778 STRV to 5.046 million on a projected
increase in national sucrose recovery to 15.126 percent. Recoveries in all regions except the Upper Midwest are
projected to be at historically high levels, pushing the national recovery projection 1.19 standard deviations above its 8-year average since 2012/13.