The U.S. Department of Agriculture in its Jan. 10 World Agricultural Supply and Demand Estimates projected U.S. sugar carryover on Oct. 1, 2014, at 1,881,000 short tons, raw value, down 94,000 tons, or 5%, from its December projection and down 279,000 tons, or 13%, from 2,160,000 tons on Oct. 1, 2013, which was raised 6,000 tons. The 2013-14 ending stocks-to-use ratio was projected at 15.4%, down from 16.1% as the December projection and down from 18% as the 2012-13 ratio.
For 2012-13, the domestic production was raised 5,000 tons to 8,982,000 tons, based on a like increase in cane sugar production. All import figures were unchanged from December. Total supply also was raised 5,000 tons to 14,185,000 tons. Total sugar use for 2012-13 was forecast at 12,025,000 tons, down 1,000 tons from December, based on a like decrease in deliveries for food at 11,486,000 tons.
Total 2013-14 U.S. sugar production was projected at 8,778,000 tons, down 100,000 tons, or 1%, from December based on a like reduction in Louisiana cane sugar production, which was forecast at 1,600,000 tons.
Total U.S. imports in 2013-14 were projected at 3,184,000 tons, unchanged from December. Total sugar supply was projected at 14,122,000 tons, down 94,000 tons from December based on changes in production and beginning stocks.
Forecast sugar use for 2013-14 was unchanged from December at 12,241,000 tons, with deliveries for food use at 11,490,000 tons.
All 2012-13 and 2013-14 sugar supply and use numbers for Mexico were unchanged from December.
