Sugar and Sweeteners Outlook: January 2012
by Stephen Haley
Outlook No. (SSSM-281) 17 pp, January 2012
The U.S. Department of Agriculture (USDA) projects 2011/12 sugar production in
Mexico at 5.000 million metric tons (mt), a decrease of 330,000 mt from last month’s
projection. The forecast is based on lower than expected harvest progress through
January 7, 2012 and consequent implications for the rest of the harvest cycle. The USDA
lowered its forecast of Mexican sugar imports from 449,000 mt to 310,000 mt. The
decrease is attributable to a lower import pace-to-date from the two tariff-rate quotas
(TRQs) opened earlier in the year by Mexico and scheduled to close by the end of
January. Lower estandar sugar prices in Mexico contributed to the lower than expected
fill level. The USDA did not change its forecast of sugar deliveries or ending stock
levels. The USDA lowered its forecast of Mexico sugar exports by 469,000 mt to
892,000 mt in order to balance sugar use with the sugar supply reductions.
Keywords: Production; sugar; supply; disappearance; imports; export; use; estimates; domestic; crop year; cost averages; cane sugar
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