World Agricultural and Demand Estimates March 10, 2026

SUGAR: U.S. sugar supply for 2025/26 is increased while deliveries for human

consumption more than offset that increase, thereby reducing ending stocks for a stocks-

to-use ratio of 15.24 percent compared with 15.89 percent last month. Cane sugar

production in Florida is decreased to 1.956 million short tons, raw value (STRV) based on

processors’ estimates of the production loss in Sweetener Market Data (SMD) incurred

due to the freeze of early February. The total production loss is estimated at 242,825

STRV or 11.04 percent. (The reduction in the Sugar WASDE is lower than that amount

because USDA knew of the freeze and did not adopt the processors’ higher production

estimate submitted before the freeze occurred.) Louisiana cane sugar is increased a

small amount based on SMD, and beet sugar is decreased on a small increase in beet

pile shrink. Imports are increased 183,916 STRV to 2.427 million. Re-export imports are

increased 50,000 STRV on the pace to date. High-tier tariff raw sugar imports are

increased 43,104 STRV on quantities entered since the previous WASDE. Based on 5

months of import data from FAS, the monthly average of 16,432 conventional high-tier

tariff refined sugar is applied to the remaining 7 months for an increase of 65,812 STRV.

Consultations with organic traders call for an increase of 25,000 STRV to 236,000 which

is back to where it was at the beginning of the fiscal year. Deliveries for human

consumption are increased 117,000 STRV to 12.165 million. Pace to date compared with

the averages for the previous 5 years suggests a delivery increase of 234,000 STRV, but

with only 4 months of data, the increase in the WASDE is only half of that amount. Beet

sugar deliveries are up, while domestic cane is down. Direct Consumption Imports are

substantially higher than originally projected on the earlier assumed pace-to-date in the

January WASDE. Ending stocks are residually projected at 1.878 million STRV.

Mexico 2025/26 supply and use is marginally changed for fewer imports of 14,000 metric

tons (MT) and an offsetting reduction in deliveries. Ending stocks are independently down

by 14,000 MT based on a FAS Mexico City projection. There are no changes for exports

under license to the United States.