USDA statement on U.S. sugar market
Consistent with the Commerce Department’s Agreement Suspending the Countervailing Duty Investigation on Sugar From Mexico, the U.S. Department of Agriculture today notified the Department of Commerce of an additional need for sugar in the U.S. market of 100,000 short tons of refined sugar.* Consequently, commerce has increased the quantity of Mexican refined sugar permitted to be exported by 100,000 short tons. This increase in Mexico’s refined sugar export limit will not change the total amount of total sugar imports from Mexico, just the mix between refined and other sugar.
In recent weeks, prospects for U.S. sugar production have declined significantly due to adverse weather in both sugar beet and sugarcane regions. In the November 2019 World Agricultural Supply & Demand Estimates Report, the U.S. sugar production projection declined by 572,000 short tons raw value from the previous month, while ongoing weather concerns threaten further reductions.
USDA will continue to monitor the market to assess whether supplies are adequate.
*Refined sugar of a polarity of 99.2 and above, as produced and measured on a dry basis.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User
I have been rather preoccupied lately and haven’t been writing my editor’s note. So, for those who have called and emailed to make sure I’m still on this Earth, I’m still here.