An article previously published on this website erroneously stated – based on inaccurate projection information – that US sugar stocks were at a 37-year low, when in fact the 2011 stocks-to-use ratio was in line with averages over the past decade.
The article also stated that the projected sugar stocks-to-use ratio for fiscal 2012 was 7.1%, although the correct figure at that time was 9.8%.
The American Sugar Alliance (ASA), which represents the interests of sugar growers, said that the forecast stocks-to-use ratio for sugar is likely to increase further over the coming year as the US Department of Agriculture (USDA) continues to revise tariff rate quotas (TRQ).
The most recent TRQ increase brings the forecast stocks-to-use ratio to 11.1%, the ASA said, “a number that will undoubtedly go up as the marketing year progresses”.
The USDA’s most recent figures also showed that the US had a stocks-to-use ratio of 15.2% for the 2011 fiscal year, not 12.3% as stated in the previous article.