The latest USDA report indicates that U.S. sugar supply for 2024/25 is reduced by 75,701 short tons, raw value (STRV) to 14.317 million STRV, as lower imports outweigh an increase in domestic production. Cane sugar production in Louisiana is revised up 28,679 STRV to 2.049 million, while Florida’s output is reduced by 26,763 STRV to 1.971 million due to lower sugarcane yields. Beet sugar production rises 35,980 STRV, as improved sucrose recovery offsets earlier processing challenges in the Pacific Northwest.
U.S. sugar supply is reduced by 75,701 STRV due to a 113,597 STRV decline in imports, while domestic production sees modest increases.
U.S. ending stocks fall to 1.872 million STRV, with a stocks-to-use ratio of 15.04%.
Mexico’s sugar exports rise to 957,021 MT, with U.S.-bound shipments cut by 106,282 MT and exports to other destinations increasing.
U.S. sugar imports are cut by 113,597 STRV, mainly due to a reduced export limit from Mexico, though high-tier tariff sugar imports increased by 10,588 STRV. Deliveries for human consumption are revised downward by 35,000 STRV to 12.240 million. As a result, U.S. ending stocks decline by 40,701 STRV to 1.872 million STRV, bringing the ending stocks-to-use ratio to 15.04%.
In Mexico, sugar production remains unchanged at 4.859 million metric tons (MT). However, imports are raised to 189,000 MT, while domestic consumption is lowered to 4.198 million MT. Mexico’s total sugar exports increase by 100,095 MT to 957,021 MT, with exports to the U.S. decreasing by 106,282 MT to 425,127 MT, while shipments to other destinations rise by 206,377 MT to 531,894 MT.
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The information provided in this market insight is for general informational purposes and should not be considered financial advice. It is not intended to offer any financial recommendations or endorsements. Any decisions made based on the content are the sole responsibility of the reader.
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