Brazil: USDA lowers forecast for US sugar production and inventories

Sugar

Brazil

United States

Published Feb 11, 2023

Tridge summary

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.

Original content

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 ton equals 907.18 kilograms. Line Up The total number of ships waiting to load sugar in Brazilian ports was 30 in the week ended February 8, the same number as the previous week (01), according to a survey carried out by the maritime agency Williams Brasil. According to the report, shipments of 1.021 million tons of sugar were scheduled, compared to 1.005 million in the previous week. ...

Source: Safras