WASHINGTON — The U.S. Department of Agriculture established the 2014-15 tariff rate quota for raw cane sugar at the World Trade Organization agreement minimum of 1,231,497 short tons, raw value.
The 2014-15 (October-September) refined sugar T.R.Q. was set at 139,993 tons, including 117,568 tons reserved for the importation of specialty sugars as defined by the Office of the U.S. Trade Representative. The total refined sugar T.R.Q. includes the W.T.O. agreement minimum of 24,251 tons, of which 1,825 tons is reserved for specialty sugar.
The U.S.T.R. later will announce the allocation of the raw and refined sugar T.R.Q. (except for specialty sugar) among supplying countries and customs areas.The U.S.D.A. also said it does not expect to purchase sugar under the Feedstock Flexibility Program in 2014-15, as required by law to avoid sugar loan forfeitures. Due to a projected 2014-15 sugar ending stocks-to-use ratio of 6.9%, the U.S.D.A. said it “has determined that sugar loan collateral forfeitures are unlikely.” The U.S.D.A.’s targeted stocks-to-use ratio is around 15%.