WASHINGTON — The US Department of Agriculture in its June 10 World Agricultural Supply and Demand Estimates report lowered from May its forecast for 2021-22 and 2022-23 US sugar production, reducing ending stocks and indicating tighter sugar supplies.
The USDA forecast 2021-22 total domestic sugar production at 9,120,000 tons, down 109,000 tons from its May forecast, with beet sugar at 5,154,000 tons, down 100,000 tons, and cane sugar at 3,967,000 tons, down 9,000 tons. For 2022-23 the USDA forecast sugar production at 8,822,000 tons, down 218,000 tons from May, with beet sugar at 4,809,000 tons, down 191,000 tons, and cane sugar at 4,013,000 tons, down 27,000 tons.
Only minor changes were made to import forecasts for 2021-22 with total imports at 3,482,000 tons, up 13,000 tons from May due to a like increase in high-tier imports, forecast at 235,000 tons. Imports from Mexico were unchanged from May at 1,220,000 tons. Imports for 2022-23 also were minimally changed, forecast at 3,013,000 tons, up 10,000 tons from May due to a like increase in tariff-rate quota imports, with imports from Mexico unchanged at 1,323,000 tons.
Total supply in 2021-22 was forecast at 14,307,000 tons, down 96,000 tons from May. Supply in 2022-23 was forecast at 13,553,000 tons, down 303,000 tons from the May forecast.
There were no changes to deliveries for either 2021-22 or 2022-23.Ending stocks in 2021-22 were forecast at 1,717,000 tons, down 96,000 tons from May, and in 2022-23 were projected at 963,000 tons, down 303,000 tons from May. The ending stocks-to-use ratio was forecast at 13.6% in 2021-22, down from 14.4% in May, and at 7.6% in 2022-23, down from 10.1% in May.