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Tighter U.S. Sugar Supply Forecast
WASHINGTON - May 11/07 - SNS -- Available supplies of sugar will likely to tighter in the coming marketing year than was the case this season, according to the latest forecasts from the USDA's World Agricultural Outlook Board.
Projected U.S. sugar supply for fiscal year 2007-08 of 11.8 million short tons, raw value, is down 476,000 tons from 2006-07, mainly due to lower production and imports.
Production of 8.26 million tons is down 3% from 2006-07. Beet sugar production is lower, based on lower area and a return to trend yields. Cane sugar production is higher, as trend yields are an improvement over 2006-07.
Imports under the sugar tariff rate quota (TRQ) are put at 1.28 million short tons to reflect U.S. commitments to the World Trade Organization to import a minimum quantity of raw and refined sugar and the Dominican Republic-Central American Free Trade Agreement.
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