WASHINGTON — The U.S. Department of Agriculture on Sept. 26 set the initial 2014-15 domestic overall sugar marketing allotment at 9,987,500 short tons, raw value, equal to 85% of estimated human consumption for the crop year as prescribed by law. Domestic consumption for 2014-15 was projected at 11,750,000 tonnes in the Sept. 11 World Agricultural Supply and Demand Estimates report.
The U.S.D.A.’s Commodity Credit Corp. assigned 5,428,206 tons (54.35%) to beet sugar and 4,559,294 tons (45.65%) to cane sugar.
The U.S.D.A. also announced 2014-crop (fiscal 2015) sugar loan rates. The 2014-crop national average loan rate is 18.75c a lb for raw cane sugar and 24.09c a lb for refined beet sugar, unchanged from 2013.The department said it would closely monitor stocks, consumption, imports and all sugar market program variables and make adjustments as necessary to ensure adequate supplies of raw and refined sugar in the domestic market.