USDA sees larger US sugar supplies for 2022/2023
The US Department of Agriculture in its Oct. 12 World Agricultural Supply and Demand Estimates report forecast higher sugar supplies and ending stocks for 2022-23. Beginning stocks, domestic cane sugar production and tariff-rate quota imports for 2022-23 all were raised from September while deliveries were unchanged. The ending stocks-to-use ratios were raised for both last year and for 2022-23.
It is reported by Food Business News.
For the 2022-23 marketing year that began Oct. 1, the USDA forecast ending stocks at 1,872,000 short tons, raw value, up 161,933 tons from September and up 99,000 tons from 1,773,000 tons in 2021-22. The ending stocks-to-use ratio was forecast at 14.8%, up from 13.5% in September and up from 14% in 2021-22.
Domestic beet sugar production in 2022-23 was projected at 5,106,000 tons, down 13,000 tons from September, cane sugar output was forecast at 4,048,000 tons, up 27,000 tons, and total production was forecast at 9,154,000 tons, up 13,0000 tons.
Total imports in 2022-23 were projected at 3,610,000 tons, up 129,000 tons from September based on a like increase in TRQ imports at 1,691,000 tons, with other categories unchanged, including imports from Mexico at 1,619,000 tons, high-tier imports at 50,000 tons and other program imports at 250,000 tons.
Domestic production in 2021-22 was estimated at 9,117,000 tons, up 52,000 tons from September with beet sugar production at 5,078,000 tons, down 24,000 tons, and cane sugar at 4,039,000 tons, up 76,000 tons due to higher cane sugar production in Louisiana during September.
Ending stocks in 2021-22 were estimated at 1,773,000 tons, up 20,000 tons from September, lifting the ending stocks-to-use ratio to 14% from 13.8% in September.