US sugar imports expected to decline amid increased production
In September, the U.S. Department of Agriculture (USDA) lowered its estimate of sugar imports in 2024/25 MY due to high ending stocks in 2023/24 MY.
It is expected that in the season 2024/25 MY the US sugar imports will amount to 2.3 million tons, which is less than the August estimate of 2.66 million tons and the expected imports in 2023/24 MY of 3.47 million tons.
The projected volume of initial sugar stocks in the 2024/25 season increased from 1.85 million tons to 2.07 million tons due to increased production and imports of sugar in the United States in the 2023/24 MY.
The forecast for beet sugar production in the United States in the 2023/24 MY increased to 4.68 million tons amid expectations of higher production in August and September 2024.
In the new season of 2024/25 MY in the United States, beet sugar production is expected to increase compared to the current season to 4.82 million tons, and cane sugar production is expected to increase to 3.77 million tons. As a result, the total volume of sugar production in the United States in the coming season is expected to reach 8.59 million tons.
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