July 12. 2022
SUGAR: Estimated U.S. ending sugar stocks for 2021/22 are increased 64,410 short tons, raw value (STRV) to 1,781,774, as an increase in supply is only partially offset by an increase in use. USDA estimates imports to increase by 217,197 STRV. On July 1, the Department of Commerce increased the 2021/22 Mexico export limit by 135,000 STRV. This is counted as “Additional U.S. Needs Sugar” that has a polarity of less than 99.5 degrees, meaning that it is considered as raw sugar. All of this sugar is projected to enter in 2021/22. Last week USDA increased the 2021/22 raw sugar TRQ by 99,999 STRV and also extended the period for this sugar to enter the United States until the end of October. Although USTR has not yet allocated the TRQ to supplying countries, USDA projects that 38,270 STRV will enter in September for 2021/22 and 55,115 will enter in October for 2022/23 with the remainder adding to the raw sugar TRQ shortfall. USDA increased its estimate of high-tier tariff imports by 43,927 STRV to 278,436 on additional highduty raw sugar entering in June and on an increase in the expected pace of high-duty refined sugar entering for the remainder of the year. Other than imports, supply is slightly decreased by a reduction in Florida cane sugar production only partially offset by a small increase in beet sugar production as reported by processors.
Annual Meeting -- SAVE THE DATES !
Feb 6-8, 2020