March 8, 2023
SUGAR: Ending stocks for 2022/23 are reduced by 154,186 short tons, raw value (STRV) to 1,720,240 on lower supply and increased use, resulting in an ending stocks-touse ratio of 13.5 percent. An increase in U.S. sugar production is more than offset by lower expected imports. Beet sugar production is increased by 59,941 STRV to 5,160,157 on an increase in sucrose recovery from the 2022 sugarbeet crop. National sucrose recovery from beets sliced during August 2022 through January 2023 is estimated at 15.4 percent in Sweetener Market Data (SMD) and serves as the basis for the increase for the crop year. Sucrose recoveries in all regions are above average with the recovery in the Red River Valley region likely to be at a record high. Cane sugar production in Florida is increased by 26,167 STRV to 2,039,845 but is decreased in Texas by 11,018 STRV to 76,164. Both of these changes are from processors’ forecasts in SMD. Louisiana cane sugar is increased by 4,297 STRV on processor data for January published in the SMD report. Imports are decreased by 133,573 STRV on a reduction of the Mexico Export Limit as set out in AD/CVD Suspension Agreements for calculating U.S. Sugar Needs after the publication of this sugar WASDE. High-tier tariff imports are increased to 155,630 STRV on a larger-than-anticipated import pace for refined sugar. Also, raw sugar imports under the 2021/22 TRQ are increased on revisions made by Customs for entries in December. Deliveries for human consumption are increased by 100,000 STRV to 12,600,000 on the strong pace through January.
Annual Meeting -- SAVE THE DATES !
Feb 6-8, 2020