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U.S. sugar production seen up as beet yields jump

The U.S. Department of Agriculture (USDA) increased on Tuesday its projection for sugar production in the United States in the 2021/22 season by 124,000 short tonnes to 9.28 million short tonnes due to better than expected beet production.

In its monthly supply and demand report, the USDA said that agricultural yields for beet in parts of the country have gone up, particularly in the Upper Midwest, where output estimates jumped 6% from the previous projection.

The agency reduced its estimate for U.S. sugar imports by 6.6% from the September report to 3 million short tonnes.

The largest cut considering imports was in the lower tariff segment, known as TRQ, mainly because the USDA said that the Philippines were not expected to be able to ship any of its allocation.

“The raw sugar TRQ shortfall is thereby raised to 250,764 short tonnes,” said the department. Consequently, other countries could receive additional shares of the TRQ ahead.

The stocks-to-use ratio was little changed from September to 13.2%.
Source: Reuters (Reporting by Marcelo Teixeira; Editing by Marguerita Choy)

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