U.S. sugar ending stocks enough for only 7.6% of demand
Sugar
United States
Published Jun 14, 2022
Tridge summary
The U.S. Department of Agriculture (USDA) on Friday slashed its projection of sugar stocks-to-use ratio, a key supply level indicator, to 7.6% for the 2022/23 season from 10.1% seen in May as estimates for sugar production in the United States fell. That means that the amount of sugar that will be available in the United States at the end of the 2022/23 (Oct-Sept) season would only be enough for 7.6% of the total demand in the country projected at 12.59 million short tonnes (ST).
Original content
In its monthly supply and demand report, the USDA projected U.S. sugar production at 8.82 million (ST) in 2022/23, down from 9.04 million ST in May. USDA blamed delays in sugarbeet planting as the main factor behind smaller U.S. sugar output. “The reduction (in production) is based on late plantings that imply a national sugarbeet yield of 27.88 tons/acre, the lowest level since 2014/15 when similar delays in planting occurred,” the agency said. U.S. farmers had problems with dry weather that delayed planting. There was also some crop switching as grains prices soared. Beet sugar production is seen falling to 4.8 million ST from 5.15 million ST in the previous crop. With that low level of supplies, ...
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