U.S.D.A. raises 2014-15 sugar ending stocks 13%

by Ron Sterk
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WASHINGTON — The U.S. Department of Agriculture in its Dec. 10 World Agricultural Supply and Demand Estimates projected 2014-15 U.S. sugar ending stocks at 1,675,000 short tons, raw value, up 13% from its November projection but down 7% from a downwardly revised 1,796,000 tons in 2013-14.

The 2014-15 ending stocks-to-use ratio rose rom 12.1% in November to 13.7%. The 2013-14 ratio was lowered from 14.4% in November to 14.3%.

There were no revisions to U.S. sugar use for 2014-15. Sugar use for 2013-14 was raised 36,000 tons, to 12,561,000 tons, reflecting a 1,000-ton decrease in exports, at 306,000 tons, and a 37,000-ton increase in domestic deliveries, to 12,255,000 tons, all of which was for food use at 11,828,000 tons.

For 2014-15, U.S. beet sugar production was unchanged from November at 4,870,000 tons, while cane sugar production was raised 148,000 tons, or 4%, to 3,740,000 tons, reflecting a 145,000-ton increase in Florida and a 3,000-ton increase in Texas.

Total 2014-15 imports were projected at 3,513,000 tons, up 42,000 tons, or 1%, from November based on a like increase in projected imports from Mexico, which were raised 3% to 1,624,000 tons, but were down 506,000 tons, or 24%, from a record 2,130,000 tons in 2013-14.

Total sugar supply in 2014-15, which began Oct. 1, 2014, was projected at 13,919,000 tons, up 190,000 tons from November but down 438,000 tons, or 3%, from an upwardly revised 14,357,000 tons in 2013-14.

For Mexico, ending stocks for both 2013-14 at 831,000 tonnes, actual weight, and for 2014-15 at 924,000 tonnes, were unchanged from November. For the current year, imports were lowered 24,000 tonnes, to 192,000 tonnes, while exports were raised 36,000 tonnes, to 1,715,000 tonnes, with the total supply reduction offset by a 60,000-tonne reduction in domestic use at 4,524,000 tonnes. For 2013-14, minor changes in imports and exports also were offset by a 14,000-tonne reduction in domestic use, estimated at 4,271,000 tonnes.
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