USDA ERS: Sugar and Sweeteners Outlook June 2020
U.S. Sugar Outlook Mexico Sugar Outlook Global Sugar Markets U.S. Honey Market
The U.S. sugar market in 2019/20 is estimated to have a stocks-to-use ratio of 13.4 percent, compared with 10.4 percent the previous month. Domestic deliveries are reduced 75,000 short tons, raw value (STRV) based on lower deliveries reported in April, as consumers shifted heavily toward at-home food consumption. Imports are raised 284,000 STRV from the previous month due to higher shipments from Mexico and more high-tier imports expected. Projected ending stocks for 2020/21 remain unchanged, as higher beginning stocks are offset by lower imports from Mexico.
Mexico sugar production is raised 105,000 metric tons, actual value (MT) to 5.230 million MT, as the harvest is scheduled to conclude by the end of June. Domestic deliveries are lowered 70,000 MT. As a result, Mexico is forecast to have additional supplies for export to the United States for 2019/20.
The global sugar market is projected to see production and consumption rebound in 2020/21 on higher field and factory yields, after poor weather conditions in several major sugar-producing countries resulted in a production deficit for 2019/20. The global sugar market will be influenced by weather, public health and domestic health policies, and macroeconomic factors such as oil prices and exchange rates, however, resulting in expected market volatility.
Michael McConnell, coordinator email@example.com
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