• American beet sugar production will be the lowest in 10 years.
  • This means that the USA will need to import more sugar to reach the desired 13.5% losing stocks to use ratio.
  • Imports will come from Mexico and raw sugar TRQ holders.

November WASDE Release

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  • The bad weather in North Dakota and Minnesota has caused harvesting difficulties for beet farmers.  
  • Minnesota Governor, Tim Walz, is even seeking certain growing areas to be declared as ‘disaster areas’ to remunerate farmers for lost production. 
  • The ground has frozen, making the extraction of beet much harder, leading to some areas being left unharvested.  

US Beet Production

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  • This is likely to mean an increase in the sugar imports from Mexico and the raw sugar TRQ allocations.
  • Supply out of Mexico is expected to fall, this could put their capacity to fill an increased export quota at risk.

Vincent O’Rourke

Vincent began his career at CZ in 2016 as an analyst in the London Office, focusing on raw sugar flows and the Refineries in North Africa and the Middle East. Since 2019 Vincent has moved to the Miami office, leading the Americas analysis (excluding Brazil) and implementing the new data capture and database processes. Vincent graduated from Edinburgh with a master’s in theology in 2015 and completed a Masters in Emerging Economies from King’s London University in 2016

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