NEW YORK, Feb 8 (Reuters) - Very good yields reported by beet sugar producers in the United States in the current season will offset not so great numbers from cane sugar makers in the South and guarantee high sugar producing levels for the country, the government said on Wednesday, Feb. 8.
The U.S. Department of Agriculture increased its estimate for beet sugar production in its monthly supply and demand report to 5.1 million short tonnes (ST) from 5.04 million ST in the previous report, saying beet sugar yields in the five main regions exceeded 10-year averages.
By contrast, the department reported problems for Louisiana cane sugar producers.
"With the sugar campaign ended, USDA contacted mills regarding final crop year production. Mills confirmed that yields were off from earlier USDA estimates due to the freeze in late December," it said.
Louisiana sugar production was cut by 82,858 ST to 2.03 million ST.
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Total U.S. sugar production, including beet and cane, was projected at 9.23 million ST in the 2022-23 season (Oct-Sept), basically at the same level of 2021-22 and on the way to be the second highest on record.
Imports were little changed in the report at 3.46 million ST, which led to an estimate of 14.8% for the stocks-to-use ratio, a level considered comfortable, although import expectations in recent years have not been fully confirmed as some supplying countries failed to fulfill their quotas.
(Reporting by Marcelo Teixeira. Editing by Marguerita Choy)
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