Brazil: USDA lowers forecast for US sugar production and inventories

Published 2023년 2월 10일

Tridge summary

The USDA's latest supply and demand report for February 2023 adjusts the production, import, and stock estimates for the 2022/23 U.S. sugar harvest. Production is now estimated at 9.231 million short tons, down slightly from the January forecast of 9.248 million tons, while imports are expected to rise to 3.463 million short tons from 3.458 million in January. The final sugar stocks for the season are forecast at 1.874 million tons, a decrease from the January estimate of 1.885 million tons. Consumption projections for the U.S. remain unchanged at 12.640 million short tons. Additionally, the article reports that 30 ships, with a total scheduled sugar shipment of 1.021 million tons, are waiting to load sugar in Brazilian ports, primarily through the Port of Santos.

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Original content

Porto Alegre, February 10, 2023 – The United States Department of Agriculture (USDA) monthly supply and demand report for February brought new figures for the 2022/23 sugar harvest in the United States. The Department estimates production at 9.231 million short tons (*), compared to the 9.248 million tons indicated in January. For 2021/22, the production estimate is 9.157 million tons. The USDA is estimating imports of 3.463 million short tons of sugar in 2022/23, up from 3.458 million in January. In 2021/22, the United States should import 3.646 million tons of sugar. Final sugar stocks for the 2022/23 season in the United States are forecast at 1.874 million tons, compared to the 1.885 million indicated in January. The 2021/22 harvest should end with a stock of 1.820 million tons. Sugar consumption in the United States should reach 12.640 million short tons in 2022/23, the same number as the previous estimate, and against the 12.688 million tons projected for 2021/22. * 1 short ...

Source: Safras