Commodities
Candymakers Catch a Breather With US Set for Record Sugar Output
- Early sugar-beet harvest signals output at an all-time high
- Candy firms were forced to import sugar at high tax rates
The US will produce a record 9.5 million short tons of sugar in the 2024-25 fiscal year.
Photographer: Cyril Marcilhacy/BloombergThis article is for subscribers only.
After paying record prices for sugar last year, American candymakers can now breathe a sigh of relief: Costs are easing as domestic production is set to climb to an all-time high.
The first beets being harvested in the western part of the country and the Midwest point to higher sugar content. Beets, which account for more than half of the sugar produced in the US, will be the key driver of record output in the year that starts in October, according to the latest estimates from the US Department of Agriculture.