USDA ERS: Sugar and Sweeteners Outlook January 16, 2025
Sugar and Sweeteners Outlook January 16, 2025
U.S. Outlook Summary
In the January World Agricultural Supply and Demand Estimates (WASDE), the U.S. 2024/25
sugar supply is raised from last month by 243,000 short tons, raw value (STRV) to 14.494 million
on increases in beginning stocks, beet sugar production, and imports (table 1). Beginning stocks
are increased by 24,000 based on the finalized 2023/24 USDA, Farm Service Agency’s Sweetener
Market Data (SMD) report. Beet sugar production is raised mainly on higher sucrose recovery by
178,000 STRV to 5.338 million, a new record but lower than the beet processors’ forecast in the
SMD of 5.597 million (figure 1). With no changes in Florida and Louisiana’s cane sugar production,
total U.S. sugar production is raised by that same amount to a record 9.404 million STRV,
reflecting about a 100,000-STRV increase (1 percent) from 2023/24. Imports are up by 41,000
STRV to 2.966 million reflecting larger-than-expected high-tier duty imports that entered between
October 2024 and the first week of January as recorded by the U.S. Department of Homeland
Security, Customs and Border Protection (CBP). The high-tier refined sugar component is raised
by 35,000 STRV to 295,000 while the raw sugar portion is up by 6,000 STRV to 167,000. Thus,
high-tier imports are now estimated at 462,000 STRV. Refiners’ imports of the sugar-equivalent of
molasses are maintained at 55,000 STRV. With the 2024/25 sugar use unchanged at 12.555
million STRV, ending stocks are raised by 243,000 STRV to 1.939 million STRV. The
corresponding ending stocks-to-use ratio is 15.4 percent, up by about 2 percentage points.
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