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USDA raises US sugar production estimate for 2018-19 crop year

Houston — US sugar production in the 2018-19 crop year is now expected to total 8.948 million st (8.117 million mt), up slightly from a 8.497 million st estimate in May, according to the US Department of Agriculture's June World Agricultural Supply and Demand Estimates report.

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The estimate for production from beets rose to 4.92 million mt from 4.91 million st in May.

The expected output from sugarcane rose to 4.028 million st from 4.037 million st in May on lower production expectations for Florida.

USDA's estimate for sugar use was unchanged at 12.31 million st. The estimate would see a slight decrease from the estimated 12.44 million st used in 2017-2018.

The agency's expectations for US sugar imports rose to 2.875 million st from the previous 2.855 million st. Its export estimate was unchanged at 35,000 st.

The agency's forecast for year-ending stocks of sugar for crop year 2018-19 rose by 21,000 st to 1.526 million st, for a stocks-to-use ratio of 12.4%, according to the report.

The US sugar crop year runs from October 1 to September 30.

-- Ben Leger, benjamin.leger@spglobal.com

-- Edited by Valarie Jackson, newsdesk@spglobal.com