Sugar and Sweeteners Outlook: U.S. and Mexico Sugar Projections Unchanged for February 2015

摘要

For this month, no changes were made to the 2014/15 U.S. sugar supply and use balance of January. Total production for the year remains at 8.610 million short tons, raw value (STRV), with beet sugar accounting for 4.870 million STRV and cane sugar accounting for 3.740 million STRV. Total imports for the year are forecast to be 3.504 million STRV. Tariff-rate quota (TRQ) imports are projected to be 1.492 million STRV. Imports from Mexico are projected to be 1.602 million STRV, based on the calculationof U.S. Needs as defined by the agreement to suspend the countervailing duty investigation signed by the Department of Commerce and the Government of Mexico in December 2014. Total supplies remain unchanged from the previous month's estimate at 13.910 million STRV. Projected deliveries for domestic use remain at 11.994 million STRV. Deliveries for food and beverage use from domestic refineries are up year-over-year through the first quarter of FY2015, while sugar imports from nonreporting entities fordirect consumption are down considerably over the same period. Ending stocks for the current year are projected to be 1.666 million STRV, which would result in a supply-to-use ratio of 13.6%.