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USDA Sugar and Sweeteners Outlook

16 April 2015

USDA Sugar and Sweeteners Outlook - April 2015USDA Sugar and Sweeteners Outlook - April 2015

USDA Sugar and Sweeteners Outlook

Mexican Production Projections Decline, but U.S. Imports from Mexico Unchanged

U.S. total sugar supplies for 2014/15 are raised 50,000 STRV to 1.810 million in April. Beginning stocks for 2014/15 are increased based on revisions to 2013/14 data. Total imports are raised 37,000 STRV to 3.464 million, due to higher imports expected under quotas from Free Trade Agreements. Imports from Mexico remain unchanged at 1.526 million STRV. Total use remains unchanged at 12.219 million STRV, with domestic deliveries for food and beverage use remaining at 11.859 million STRV. Ending stocks are projected to increase 50,000 STRV to 1.700 million, resulting in the stocks-to-use ratio increasing from 13.5 percent to 13.9 percent.

U.S. sugar production in 2013/14 is raised 5,000 short tons, raw value (STRV) to 8.462 million; ending stocks increased 14,000 STRV to 1.810 million; and miscellaneous domestic deliveries are lowered to -3,000 based on revisions to Florida and Louisiana sugar processor data.

For 2014/15, Mexican total supplies are lowered 101,000 metric tons, actual value (MT). This is due to a 101,000 MT reduction in production due to severe weather in the key production region of Veracruz. Domestic consumption is raised 50,000 MT to 4.250 million MT based on strong pace-to-date data. Exports are reduced 125,000 MT to 1.506 million MT, but exports to the United States remain unchanged at 1.306 million MT. Ending stocks are reduced 26,000 MT, resulting in a stocks-to-domestic-consumption ratio of 22.9 percent, down from 23.8 percent in March.

U.S. honey production in 2014 reached its highest level since 2004, at 178 million pounds. Average prices in 2014 were $2.16 per pound, increasing for the ninth consecutive year. In 2014, U.S. honey imports reached 365 million pounds, an 8.2 percent increase from the previous year. Imports continue to account for more than two-thirds of total U.S. supplies.

Published by USDA Economic Research Service

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