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U.S. Domestic Sugar Supplies Rising
WASHINGTON - Jun 11/07 - SNS -- More sugar will be available to the U.S. domestic market than initially expected, according to the latest supply and demand outlooks estimates from the USDA's World Agricultural Outlook Board.
Projected 2007-08 U.S. sugar supply is increased 77,000 short tons, raw value, from last month, mainly due to higher non-program imports from Mexico.
The 100,000-ton increase in non-program imports is based on reports of a stronger-than-expected finish for Mexico's 2006-07 sugarcane harvest and increased use of corn-based sweeteners in Mexico.
Beginning stocks are lowered 23,000 tons based on minor adjustments in 2006-07 supply and use. Sugar use for 2007-08 is unchanged.
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