USDA ERS: Sugar and Sweeteners Outlook August 17, 2023

Sugar and Sweeteners Outlook August 17, 2023

U.S. Outlook Summary

Outlook for Larger Sugar Supplies Raised Stocks-to-Use Ratio in 2022/23 and 2023/24

In the August 2023 WASDE report, the U.S. sugar supply in 2022/23 is raised from last month by 148,000 STRV to 14.729 million as larger import volumes of re-export program sugar, Mexican sugar, and high-tier duty sugar offset the slight decrease in beet sugar production (table 1). The 2022/23 sugar use is lowered by 25,000 STRV to 12.715 million on the continued slowdown in the delivery pace of sugar for human consumption. Thus, ending stocks in 2022/23 are increased by 173,000 STRV to 2.014 million and the resulting stocks-to-use ratio is 15.8 percent, up from last month’s 14.4 percent.

U.S. sugar supply in 2023/24 is raised from last month by 223,000 STRV to 14.682 million on larger beginning stocks, beet sugar production, and imports. Sugar use is unchanged at 12.740 million STRV. As a result, ending stocks in 2023/24 are raised by 223,000 STRV to 1.942 million and the corresponding stocks-to-use ratio is revised upwards from last month’s 13.5 percent to 15.2.

Vidalina Abadam, coordinator

DW Montgomery & Company has provided extensive market and contractual expertise within the sugar industry for over 70 years. Our family has now three generations working within the business and has grown to include a large variety of organic and natural ingredients. It is our pleasure to serve you and assist you in your purchasing needs.

All the best,

David Montgomery, Jr., Paul Montgomery, Andrew Montgomery, and David Montgomery III