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U.S. Sugar Stocks Expanding
WASHINGTON - Mar 10/04 - SNS -- Season ending supplies of sugar are expected to be higher than initially thought in the United States, judging from the latest forecasts from the USDA's World Agriculture Outlook Board.
The season should end with 14,000 short tons more product on hand than expected, with the USDA forecasting a 1.952 million ton ending stock. This is a massive increase from the 1.4 million and 1.26 million tons remaining after the 2001-02 and 2002-03 marketing years.
Projected U.S. sugar production for fiscal year 2003-04 is increased 15,000 short tons, raw value, from last month, based on processors' production projections and estimates compiled by the Farm Service Agency. Most of the increase is due to higher cane sugar output in Texas. On the use side, no changes are made.
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