WASHINGTON — The U.S. Division of Agriculture in its April 9 Planet Agricultural Provide and Demand Estimates report slightly lowered its forecast of domestic beet and cane sugar production in the present 2018-19 marketing and advertising year that ends Sept. 30.
Beet sugar production was forecast at four,997,000 brief tons, raw worth, down 7,000 tons from March and down 282,000 tons, or five%, from record outturn of five,279,000 tons in 2017-18. Refined cane sugar production was forecast at four,063,000 tons, down 36,000 tons from March but up 49,000 tons from four,014,000 tons a year earlier. Total sugar production for the present year was forecast at 9,060,000 tons, down 42,457 tons from March and down 233,000 tons from record outturn of 9,293,000 tons in 2017-18.
“U.S. sugar provide for 2018-19 is decreased 42,457 brief tons, raw worth, primarily based on processor-reported reductions to beet sugar production and cane sugar production in Florida,” the U.S.D.A. mentioned.
There have been no adjustments produced from March by the U.S.D.A. for 2018-19 imports, such as imports from Mexico at 897,000 tons, down 326,000 tons, or 27%, from 2017-18.
Total sugar provide was forecast at 13,930,000 tons, down about 43,000 tons from March and down 515,000 tons, or three.six%, from 14,445,000 tons final year.
Total 2018-19 sugar use was forecast at 12,305,000 tons, unchanged from March but down 133,000 tons from 2017-18, with deliveries for meals at 12,125,000 tons, unchanged from March but up 77,000 tons from final year.
There also have been no adjustments produced to estimated provide and use for 2017-18.
The closely watched ending stocks-to-use ratio was forecast at 13.two% for 2018-19, down from 13.six% as the March forecast and down from 16.1% estimated for 2017-18. The 2018-19 ratio is beneath the minimum 13.five% essential in the U.S.-Mexico suspension agreements, as properly as beneath the 13.five% to 15.five% variety generally observed as the U.S.D.A.’s target variety.
The U.S.D.A. produced no adjustments from March to 2017-18 estimates for 2018-19 forecasts for Mexico.