USDA ERS: Sugar and Sweeteners Outlook June 2021
U.S. Sugar Supplies Lowered on Reduced 2020/21 Imports
Next release is July 16, 2021
In this report:
U.S. Sugar Outlook Mexico Sugar Outlook Global Sugar Outlook Honey Outlook
U.S. sugar production, deliveries, and imports are unchanged in 2021/22. Beginning and ending stocks are lowered consequent to a slight reduction for 2020/21 imports. For Mexico, 2020/21 production is lowered, but domestic use is unchanged. Stocks and exports to the United States are unchanged, while exports to other markets are residually lower to account for the reduction to supplies.
Global sugar production is projected higher in 2021/22 as a small reduction to Brazil’s output is expected to be more than offset by larger production for Thailand and other key suppliers. The portion of Brazil’s sugarcane crop being diverted into sugar is down slightly from the previous year, but still well above the previous two years. Dry conditions have limited the overall supplies of sugarcane. Global exports are projected at a record with larger shipments from other exporters, especially Thailand, more than offsetting reduced Brazilian exports. Brazil is still forecast as the world’s leading supplier. Global consumption is projected to expand to a record, rebounding from the relatively weaker levels of the previous two years.
U.S. honey demand expanded in 2020, while production declined. Rising imports, mainly from Vietnam, Argentina, India, Brazil, and Ukraine, filled the gap between supply and use. China was the world’s leading honey producer in 2019.
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