USDA Revises Raw Sugar Tariff-Rate Quota
22 June 2011 The USDA increased the fiscal year 2011 raw sugar tariff-rate quota (TRQ) by 120,000 short tons raw value (STRV), according to a press release.
The increase is expected to yield a net increase in imports of 110,000 STRV due to normal TRQ slippage. The increase in sugar supplies is forecast to yield an ending FY 2011 stocks-to-use ratio of 15% and mitigate some of the summer 2011 sugar supply risk associated with late sugar beet plantings, uncertain Mexican imports, and a tight world sugar market. This increase in raw sugar imports is also expected to provide an adequate supply of sugar without the need for significant imports under the unrestricted high-tier tariff, according to the USDA.
To read the entire sugar allocation report, click here.
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