Tridge summary
The American Sugar Alliance's director, Rob Johansson, announced at the National Association of Farm Broadcasting convention that the U.S. Department of Agriculture (USDA) projects a record sugarbeet and sugarcane crop for marketing year 2023-24, with total sugar production estimated at nearly 9.4 million short tons. Despite concerns over yield reductions in Michigan, Minnesota, and Montana, the 2024-25 sugarbeet harvest is expected to reach 32.7 tons per acre. The U.S. sugar demand remains strong, with domestic production covering around 75% of the total demand of 12.4 million tons. However, the industry faces challenges such as increased production costs and the risk of low world prices due to subsidization in India, Brazil, and Thailand. Johansson stressed the importance of a new farm bill to support all producers and ensure continued lending for farm operations.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Rob Johansson, director of economics and policy analysis for the American Sugar Alliance, speaking at the National Association of Farm Broadcasting annual convention in Kansas City, Missouri, in November, said the U.S. Department of Agriculture pegged the marketing year 2023-24 combined crop of sugarbeets and sugarcane at nearly 9.4 million short tons — a record. The November Sugar and Sweeteners Outlook from USDA put beet sugar at 5.236 million short tons. "So that was a record, and we were looking at another great crop coming in next year as well this coming year, just being harvested right now and piled up," he said. The Sugar and Sweeteners Outlook estimated the 2024-25 sugarbeet harvest at 32.7 tons per acre, which included yield reductions in Michigan, Minnesota, and Montana offsetting higher production in other states. The resulting estimate for total sugar was 5.245 million short tons. The report put 2023-24 cane sugar at 4.133 million short tons, the second highest level ...
Source: Prairie Grain Partners
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