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U.S. 2024/25 Sugar Supply Is Raised; Mexico’s 2024/25 Sugar Balance Is Unchanged
In the April World Agricultural Supply and Demand Estimates (WASDE) report, the U.S. 2024/25 sugar supply is raised from last month by 144,000 short tons, raw value (STRV) to 14.461 million, as the decrease in domestic sugar production is more than offset by the increases in high-tier imports and beginning stocks. With sugar use unchanged at 12.445 million STRV, ending stocks are raised by the magnitude of the supply increase to 2.016 million STRV. The corresponding ending stocks-to-use ratio is 16.2 percent, up 1.2 percentage points and the second highest since 2015/16. Mexico’s 2024/25 sugar balance is unchanged.