United States Herbs, Spices & Seasonings insights

By Marcelo Teixeira NEW YORK (Reuters) - U.S. sugar production was forecast on Friday at an all-time high of 9.40 million short tons (ST) in the 2024/25 (October-September) season as beet processors reported good industrial yields from the current crop, the USDA said. The U.S. Department of Agriculture (USDA) raised its forecast for beet sugar to 5.33 million short tons from 5.16 million short tons in December. Cane sugar production was unchanged at 4.06 million metric tons. The previous record for U.S. sugar production was set last season (2023/24) at 9.3 million metric tons. The record crop is expected to improve sugar availability in the local market after a few years of tight supplies, according to USDA data. The sugar stocks-to-use ratio, a proxy ...

3 January 2025, Rome - The Food and Agriculture Organization of the United Nations (FAO) released its latest report on Friday, showing that the international food price index fell month-on-month in December 2024, affected by the decline in international sugar quotations. The FAO Food Price Index is a measure of the monthly changes in international prices of a basket of food commodities. In December 2024, the FAO Food Price Index averaged 127.0 points, down 0.5% from the previous month and up 6.7% from December 2023. The food price index for the whole year of 2024 was 122.0 points, 2.1% lower than the average in 2023. Vegetable oil, dairy products and meat prices rose, but the magnitude did not fully offset the decline in grain and sugar quotations. The FAO Cereal Price Index was basically unchanged from the previous month in December, with a slight increase in corn quotations offsetting the decline in wheat prices, but it was down 9.3% from the same period last year. For the whole year, the FAO Cereal Price Index averaged 113.5 points in 2024, down 13.3% from 2023 and up 1.2% from 2022. The historical peak fell for the second consecutive year. The FAO Rice Price Index rose 0.8% in 2024 from 2023, reaching a nominal high in 16 years. The FAO Vegetable Oil Price Index fell 0.5% month-on-month in December, but still rose 33.5% year-on-year. In 2024, against the backdrop of tight global supply, the FAO Vegetable Oil Price Index rose 9.4% from 2023. The FAO Meat Price Index rose 0.4% month-on-month in December, reversing three consecutive months of decline, and rose 7.1% compared with the same period last year. In 2024, the FAO Meat Price Index rose 2.7% from 2023, The prices of beef, mutton and poultry meat remained high, fully offsetting the decline in pork prices. The FAO Dairy Price Index fell by 0.7% in December from the previous month, falling for the first time after seven consecutive months of increases, but it was still 17.0% higher than the same period last year. For the whole year of 2024, the FAO Dairy Price Index will rise by an average of 4.7% compared with 2023, mainly due to the sharp rise in butter prices. The FAO Sugar Price Index fell by 5.1% in December from the previous month and fell by 10.6% from the same period last year due to improved prospects for sugarcane crops in major producing countries. For the whole year of 2024, the FAO Sugar Price Index will average A decrease of 13.2% compared to 2023. Related links: FAO Food Price Index: https://www.fao.org/worldfoodsituation/foodpricesindex/zh/ Agricultural Product Market Information System Market Monitoring: https://www.amis-outlook.org/amis-monitoring/monthly-report/en/ Agricultural Product Market Information System (AMIS): https://www.amis-outlook.org/amis-monitoring/monthly-report/en/

Sugar production was a record in 2023-24, Rob Johansson of the American Sugar Alliance said. Demand continues to keep pace. But a farm bill remains an important factor for the industry. It's been a big year for sugar production, but demand has been keeping pace.