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Tighter U.S. Sugar Supply Expected

WASHINGTON - May 9/08 - SNS -- Sugar stocks will tighten in the United States across the coming marketing campaign, according to the latest supply and demand forecasts from the USDA's World Agricultural Outlook Board.

Projected U.S. sugar supply for fiscal year 2008-09 of 12.1 million short tons, raw value, is down 321,000 MT from 2007-08, mainly due to lower production and beginning stocks. Lower beet sugar production, due to reduced area, more than offsets higher cane sugar production from improved yields.

Imports under the sugar tariff rate quota (TRQ) are put at 1.27 million short tons to reflect the minimum of U.S. commitments to import raw and refined sugar. The TRQ shortfall is 100,000 MT. The Secretary of Agriculture will establish the actual level of the TRQ at a later date. Projected total use of 10.8 million MT is up 100,000 MT. Year-ending stocks are 1.34 million tons.

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