November 08, 2018

SUGAR: Changes to U.S. sugar supply and use for 2017/18 are made based on full year data from the Farm Service Agency’s Sweetener Market Data and U.S. Census trade data. Sugar production is increased 44,294 short tons, raw value (STRV) to 9.293 million based on strongerthan-expected production in the month of September for both beet sugar and Louisiana cane sugar. Imports are reduced by 38,139 STRV on lower-than-expected shipments from Mexico that are partially offset by an increase in high-tier tariff imports. Total deliveries are reduced by 69,569 STRV, reflecting decreases for human consumption, product re-exports, and non-human uses. U.S. beet sugar production for 2018/19 is reduced by 261,953 STRV to 4.974 million based on a 4.9-percent reduction in the NASS forecast of sugarbeet production in the November Crop Production Report. Louisiana cane sugar production is increased by 14,945 STRV to 1.841 million, based on a higher NASS forecast of sugarcane production partially offset by lower sucrose recovery forecast by processors. Deliveries for human consumption are reduced by 75,000 STRV to 12.175 million in line with the reduction for 2017/18. Ending stocks for 2018/19 are projected at 1.404 million STRV, implying an ending stocks-to-use ratio of 11.3 percent.

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