Argentina. Sugar Report Update. Oct 2014 Nov. 11, 2014
Post raises Argentine 2015 sugar production estimate to 2.05 million tons, a small increase from USDA’s number due to beneficial weather during harvest time. Exports and domestic consumption are reduced marginally, resulting in higher ending stocks than earlier projected.
Argentine sugar production for 2014/2015 is adjusted up marginally to 2.05 million tons, raw value, 50,000 tons higher than USDA’s official number. This is primarily because weather during winter was very beneficial and cane plantations were able to improve productivity somewhat. There were just a few mild frosts and very little rain during harvest time.
Exports are now estimated at 140,000 tons, raw value, 10,000 tons lower than USDA’s number. However, contacts indicate that if prices improve, Argentina could export an additional 50-60,000 tons.
Domestic consumption is adjusted down minimally at 1.85 million tons, raw value, as a reflection of a slower local economy which is affecting the beverage and food industries.
Ending stocks are expected at 201,000 tons, raw value, 80,000 tons higher than USDA’s official number. This is a result of a higher production and lower exports and domestic consumption