Supply/Demand Picture for Sugar Starting to Cause Concern
When the latest supply and demand estimates were released by USDA - all eyes were on the latest corn and soybean production figures. But American Sugar Alliance Economist Jack Roney says the report also included surprising information about sugar. Unlike corn - Roney says the U.S. is moving toward an oversupply of sugar. As of September 30th - the country had 1.7-million tons of surplus overhanging the U.S. sugar market. That’s enough sugar to give every American nearly 11 pounds of sugar on top of what they’re already consuming - and Roney says many of the surpluses have come from subsidized foreign producers.