August 10, 2018 / 4:51 PM / 11 days ago

USDA boosts forecast for 2018/19 beet, cane sugar output

(Reuters) - The U.S. Department of Agriculture (USDA) on Friday upped its outlook for sugar supplies in 2018/19 amid higher production of both beet and cane.

A sugar cane field is seen near Kahalui, Maui, Hawaii July 28, 2015. REUTERS/Marco Garcia

The closely watched stocks-to-use ratio stood at 18.1 for the marketing year that begins Oct. 1, versus a previous forecast of 13.5 and 16.9 in the previous season, according to the monthly USDA report.

Total U.S. sugar production will reach 9.088 million tons (8.24 million tonnes) in 2018/19, nearing last year’s record of 9.26 million tons, the USDA said.

The agency’s import forecast for 2018/19 was unchanged at 3.56 million tons, versus an estimate for 2017/18 of 3.39 million tonnes.

To read more of this month’s USDA sugar outlook, see:

Reporting by Chris Prentice; Editing by Phil Berlowitz

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