October 12, 2022

SUGAR: U.S. 2022/23 sugar ending stocks are increased by 161,933 short tons, raw value (STRV) on increases in imports,
beginning stocks, and production. On September 15, the USDA established the fiscal year (FY) 2022/23 refined sugar
TRQ at 220,000 metric tons, raw value (MTRV), and on September 19 USTR allocated the in-quota quantity of the TRQ
among supplying countries. USDA’s action results in an increase in 2022/23 TRQ imports of 217,206 STRV. Added to this
amount are imports amounting to 77,437 STRV from the 2021/22 raw sugar TRQ that did not enter in September as
forecast but are forecast to enter in 2022/23 after USDA extended the period for entry until December 31, 2022.
Arrayed against these increases is an increase in the raw sugar TRQ shortfall by 155,424 STRV to 254,632, due mostly to
the decision of officials in the Philippines to allocate all production to domestic consumption and reduce exports to zero.
Also, sugar imported under calendar year FTA TRQs are reduced by 10,201 STRV mostly because that sugar entered
earlier in 2021/22 than originally forecast.

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