SUGAR: U.S. sugar imports for 2015/16 are increased by 182,558 short tons, raw value (STRV) from last month. Although
the U.S. Department of Agriculture (USDA) announced the increase of the raw sugar tariff-rate quota (TRQ) by 140,000
STRV on May 17, 2016, it is estimated that 122,558 of that amount will enter, implying an increase in the total raw sugar
TRQ shortfall of 17,442 to 45,000. Following the Department of Commerce’s approval of WASDE-554-4 USDA’s request
for an additional 60,000 STRV of raw sugar imports from Mexico based on an additional need for “Other Sugar” of
polarity of less than 99.2 and consistent with the CVD Suspension Agreement, sugar imports from Mexico are increased
by that amount. U.S. sugar production is increased by 7,874 STRV based on end-of-season reporting in Florida and Texas.
Based on pace to date, exports for 2015/16 are reduced by 35,000 STRV to 65,000 and deliveries for re-export products
are increased by 30,000 to 130,000. Ending stocks for 2015/16 are calculated residually at 1.939 million STRV, implying
an ending stocks-to-use ratio of 15.85 percent.