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USDA GAIN: Oilseeds, Cotton, Sugar, Grain and Feed

07 October 2014

USDA GAIN: EU-28 Sugar Semi-Annual 2014USDA GAIN: EU-28 Sugar Semi-Annual 2014

EU sugar production for food in MY 2014/15 is forecast at 16.3 million MT, up from 16.0 million MT in MY 2013/14, but down from 16.6 million MT in MY 2012/13. EU sugar imports in MY 2013/14 remains at 3.3 million MT, as a preferential import quota for Brazil for 325,000 MT is still unused. Forecasts for MY 2014/15 expect EU sugar imports to increase again to 3.5 million MT as new EU FTA’s become operational. EU sugar exports in MY 2014/15 are WTO limited at 1.5 million MT, about the same level as MY 2013/14 exports. EU sugar consumption for food is forecast to increase to 18.5 million MT in MY 2014/15, up from 18.3 million MT in MY 2013/14, as EU prices are expected to further decrease following the decline in world prices
USDA GAIN Report - Oilseeds, Cotton, Sugar, Grain and Feed

EU sugar production forecast in Marketing Year (MY) 2014/15 is remains at 16.3 million MT in raw sugar equivalent (RSE) as it is restricted by the EU sugar production quota regime. This is 300,000 MT up from 16.0 million MT in MY 2013/14. However, slightly higher beet acreage and favorable growing conditions will push EU MY 2014/15 out-of-quota production for industrial purposes up to nearly 3 million MT, the second largest crop since the 2007 EU Sugar Reform and more than 1 million MT higher than in MY 2013/14.

EU sugar imports are expected to decrease to 3.3 million MT in MY 2013/14 from 3.8 million MT in MY 2012/13 despite the opening of additional import quota, mainly from countries with which the EU recently signed a Free Trade Agreement (FTA) - Columbia, Peru, Panama and Central America. A preferential import quota for Brazil for over 325,000 MT remains unused. EU sugar imports are forecast to increase again to 3.5 million MT in MY 2014/15.

EU sugar exports for MY 2014/15 are forecast at 1.5 million MT as they are limited by the EU’s WTO sugar export ceiling. Exports in MY 2013/14 are expected to end at 1.45 million MT while they were slightly higher at 1.66 million MT in MY 2012/13. Almost all of the sugar destined for exports is refined sugar. High EU domestic sugar prices since MY 2011/12 have slowed down the increase in sugar consumption at 18.3 million MT in MY 2013/14, but consumption is forecast to further increase again in MY 2014/15 to 18.5 million MT if EU sugar prices further decrease.

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