Tridge summary
The U.S. Department of Agriculture has increased its sugar production projection for the 2021/22 season by 124,000 short tonnes to 9.28 million short tonnes due to better beet production, particularly in the Upper Midwest. The USDA also reduced its estimate for U.S. sugar imports by 6.6% to 3 million short tonnes. The largest cut was in the lower tariff segment, primarily because the Philippines are not expected to be able to ship any of its allocation, leading to a potential increase in shares of the TRQ for other countries.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The U.S. Department of Agriculture (USDA) increased on Tuesday its projection for sugar production in the United States in the 2021/22 season by 124,000 short tonnes to 9.28 million short tonnes due to better than expected beet production. In its monthly supply and demand report, the USDA said that agricultural yields for beet in parts of the country have gone up, particularly in the Upper Midwest, where output estimates jumped 6% from the previous projection. The agency reduced its estimate for U.S. sugar imports by 6.6% from the September report to 3 million short tonnes. The largest cut considering imports was in the lower tariff segment, known as TRQ, mainly because the USDA said that the Philippines were not expected to be able to ship any of its allocation. “The raw sugar TRQ shortfall is thereby ...
Source: Hellenic Shipping News
Would you like more in-depth insights?
Gain access to detailed market analysis tailored to your business needs.
Related market data
What to read next
Read more relevant content
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.