WASHINGTON — The U.S. Department of Agriculture in its World Agricultural Supply and Demand Estimates on Jan. 12 projected U.S. sugar carryover on Oct. 1, 2017, at 1,881,000 short tons, raw value, down 31,000 tons, or 2%, from its December projection and down 173,000 tons, or 8%, from 2,054,000 tons estimated on Oct. 1, 2016.
The projected 2016-17 ending stocks-to-use ratio was revised to 15.4% from 15.7% in December and compared with 17% in 2015-16. The ratios for both years are above the minimum 13.5% mandated in the 2014 Countervailing Duty and Anti-Dumping Suspension Agreements between the United States and Mexico.
There were no changes to 2015-16 estimates or to 2016-17 use projections.
The U.S.D.A. projected 2016-17 U.S. beet sugar production at 5,371,000 tons, unchanged from December, and cane sugar production at 3,942,000 tons, down 29,000 tons based on a 32,000-ton decrease in Louisiana and a 2,000-ton increase in Texas.
Total U.S. sugar imports were projected at 2,694,000 tons, down 1,515 tons from December “based on end of calendar year adjustments made for tariff rate quota imports under several free trade agreements,” the U.S.D.A. said. Imports from Mexico were unchanged at 972,000 tons.For Mexico, beginning stocks, production, exports and ending stocks were unchanged from December for both 2015-16 and 2016-17. Imports for last year were raised by 12,968 tonnes, actual weight, to 82,876 tonnes “based on government data for the complete marketing year,” the U.S.D.A. said. Domestic use was raised by a like amount to 4,767,000 tonnes, resulting in no change to ending stocks at 1,037,000 tonnes. For 2016-17, forecast imports were projected at 60,000 tonnes, up 50,000 tonnes from December, with domestic use at 4,769,000 tonnes, also up 50,000 tonnes, resulting in ending stocks at 1,229,000 tonnes, unchanged from December.