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Tighter U.S. Sugar Outlook
WASHINGTON - Jul 12/07 - SNS -- The supply outlook for sugar in the coming season will be tighter than initially thought, according to the latest forecasts from the USDA's World Agricultural Outlook Board.
Projected 2007-08 U.S. sugar supply is decreased 40,000 tons, raw value, from last month, due to lower beginning stocks more than offsetting higher production. Processor projections compiled by the Farm Service Agency put 2007-08 production at 8.29 million tons, up 37,000 from last month's projection. Sugar use is unchanged.
For 2006-07, estimated shortfall in tariff rate quota imports is increased 25,000 tons. Exports and deliveries to manufacturers for re-export products are increased 25,000 tons each, based on pace to date. These and minor changes in production estimates reduce ending stocks 77,000 tons.
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