WASHINGTON, Dec. 22, 2021 – The U.S. Department of Agriculture (USDA) announced various actions to increase available supplies of raw and refined sugar to the U.S. market. The actions include: (1) increasing the fiscal year 2022 (FY22) overall allotment quantity (OAQ); (2) transferring allocations among beet processors; and (3) increasing raw cane sugar imports from Mexico. Action items (1) and (2) are being undertaken to allow all beet processors to market all of their expected FY22 beet sugar supply. Currently, some beet processors anticipate that their FY22 beet sugar supply will exceed their FY22 marketing allotment, a phenomenon known as “blocked stocks.” Absent action by USDA, beet processors with blocked stocks would be unable to market their entire FY22 beet sugar supply. Action item (3) was undertaken on Nov. 23, 2021 to add more raw cane sugar to the U.S. market.
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WASHINGTON, Dec. 22, 2021 – The U.S. Department of Agriculture (USDA) announced various actions to increase available supplies of raw and refined sugar to the U.S. market. The actions include: (1) increasing the fiscal year 2022 (FY22) overall allotment quantity (OAQ); (2) transferring allocations among beet processors; and (3) increasing raw cane sugar imports from Mexico. Action items (1) and (2) are being undertaken to allow all beet processors to market all of their expected FY22 beet sugar supply. Currently, some beet processors anticipate that their FY22 beet sugar supply will exceed their FY22 marketing allotment, a phenomenon known as “blocked stocks.” Absent action by USDA, beet processors with blocked stocks would be unable to market their entire FY22 beet sugar supply. Action item (3) was undertaken on Nov. 23, 2021 to add more raw cane sugar to the U.S. market.
FY22 U.S. raw cane sugar production is currently estimated to be about 220,000 STRV lower than in FY21 while raw cane sugar TRQ imports are estimated to be about 165,000 STRV lower. Thus, FY22 raw cane sugar availability is significantly reduced as compared to FY21. In addition, there is growing demand for raw cane sugar imports from non-traditional users of such imports, exacerbating the stresses arising from the production and import shortfall.
USDA will closely monitor stocks, consumption, imports and all sugar market and program variables on an ongoing basis and may make further program adjustments during FY22 if needed.
Allotments and other information can be found in a Dec. 22, 2021 Federal Register notice.
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