ERS: Mexico still ‘significant’ supplier of sugar
Mexico remains a “significant” supplier of sugar to the United States despite a limit imposed on the country’s exports to the United States under the terms of suspension agreements negotiated with the U.S. Department of Commerce in 2014, the Agriculture Department’s Economic Research Service showed in a graphic released Wednesday.
U.S. sugar supplies for 2021/22 are reduced from last month on lower beginning stocks, domestic sugar production, and imports from Mexico more than offsetting the 50,000-short tons, raw value (STRV) increase in high-tier imports. A correction to the August 2021 import data in the Sweetener Market Data (SMD) report reduced the 2020/21 ending stocks by 26,000 STRV, which in turn reduced the 2021/22 beginning stocks. Beet sugar production and Louisiana cane sugar production for 2021/22 is decreased by 20,000 STRV and 71,600 STRV, respectively. Expected imports from Mexico are lowered 19,000 STRV, based on the terms of the suspension agreements and slight adjustment to include an amount from the 2020/21 export allocation that was permitted late entry by the Department of Commerce. High-tier tariff imports are increased by 50,000 STRV on pace of actual entries through the beginning of December based on U.S. Customs and Border Protection data. With sugar use for 2021/22 unchanged, ending stocks are lowered 87,000 STRV to 1.678 million STRV, with an ending stocks-to-ratio of 13.6 percent.
Mexican exports to United States are reduced 16,400 metric tons, and exports to other countries increased by the same amount.
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