SUGAR AND SWEETENERS                                    September 26,1997
September 1997, SSS-221
               Approved by the World Agricultural Outlook Board
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of the next SUGAR AND SWEETENERS, the Yearbook, is scheduled for release 
December 18, 1997.  

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Contents

Summary

U.S. Sugar
Production
Consumption
Trade

Stocks and Prices
Programs and Policies
Cost of Production

U.S. Corn Sweeteners

Text Box A: Origin of the United States Sugar Import Tariff-Rate Quota Shares
Text Box B: Changing Structure of the U.S. Refined Sugar Market
Text Box C:  HFCS Trade Dispute with Mexico
Text Box D: Internet and Autofax Access to Sugar-Related Data
List of Tables

Report Coordinator
Ron Lord
(202) 219-0888
E-mail:  RLORD@ECON.AG.GOV

Note: As of November 2, 1997,  ERS will have moved. The new address for the
Sugar & Sweetener group will be Room 5057, 1800 M St NW, Washington, DC 
20036-5831, and the new phone number will be 202-694-5260.

Database Coordinator/Graphics & Table Design
Fannye Lockley-Jolly

Layout & Text Design
Anne Pearl

Summary

Raw Cane Sugar TRQ for Fiscal Year 1998 Set at 1.8 Million Metric Tons

The raw cane sugar tariff-rate quota (TRQ) for 1997/98 was set on September 17,
1997, at 1.8 million metric tons, raw value. The refined sugar TRQ was set at
50,000 metric tons, raw value, with 25,000 tons allocated to Mexico under North
American Free Trade Agreement (NAFTA) provisions. The raw cane sugar TRQ will
be administered similarly to last year. Under administration of the TRQ, 1.2
million tons have been allocated. If the stocks-to-use ratio reported in the
January 1998 World Agricultural Supply and Demand Estimates (WASDE) report is
less than or equal to 15.5 percent, an additional 200,000 metric tons will be
available for entry at that time. If the ratio is greater than 15.5 percent,
the 200,000 tons being held in reserve will not be made available. The same
process will occur with the March and May WASDE reports.  
 
U.S. sugar production in 1997/98 (October 1997-September 1998), is projected at
7.635 million short tons, raw value, up 5.3 percent from 1996/97. Beet sugar
production is forecast at 4.3 million tons, up 250,000 tons. Cane sugar is up
130,000 tons to 3.34 million tons. Sugar production for 1996/97 is estimated at
7.25 million tons, 4.05 million tons of beet sugar and 3.2 million tons of cane
sugar. 

Sugarbeet area harvested for 1997/98 is up 8 percent from last year when
acreage was depressed by bad weather and the relatively high prices of
alternative crops. Increased sugarbeet acreage is spread throughout nearly all
growing areas.

Louisiana is projected to have the largest increase in cane sugar in 1997/98,
up 10 percent to 1.15 million short tons because of larger acreage and
excellent yields. Florida is projected to produce 1.73 million tons, 3 percent
above last year's disappointing crop but about average. Hawaii's production is
forecast to decline slightly to 340,000 tons, indicating at least a temporary
lull in a 10-year decline from 1 million tons. 
 
Total U.S. sugar deliveries for 1997/98 are forecast at 9.9 million tons, up
1.5 percent, or 150,000 tons, from 1997's revised estimate. This growth rate is
comparable with the 5-year trend. The U.S. Department of Agriculture's (USDA)
forecast of 1996/97 sugar consumption is 9.75 million short tons, raw value,
based on analysis of 10 months of USDA delivery data.

The United States and Canada reached an agreement on September 8, 1997, in
which Canada will not challenge the use of the U.S. sugar-containing products
re-export program. The United States has agreed to allocate to Canada its
historical share of refined sugar and sugar-containing products in two TRQs. 

Beginning stocks in 1997/98 are forecast at 1.55 million tons, up 62,000 tons
from beginning stocks of 1.49 million tons for 1996/97. Beet sugar processors
have been holding significantly more stocks than last year. Wholesale refined
beet sugar prices (f.o.b. plant, Midwest markets) have recently declined to
26.50 cents a pound from levels of around 29 cents a pound earlier in the year.
The prospective increase in sugarbeet acreage and the corresponding 400,000-ton
rise in the forecast beet sugar crop is responsible for much of the softening
in refined prices. 

U.S. raw sugar prices (nearby futures, c.i.f., duty-paid, Contract No. 14, New
York) averaged 22.22 cents a pound in the first 11 market days of September,
compared with 22.21 in August and 22.04 in July. In the 2 days following the
TRQ announcement on September 17, raw sugar prices strengthened.

Use of the Commodity Credit Corporation's (CCC) loan program by sugar
processors has dropped from earlier years. In the 1996 crop year, 577,000 tons
of refined beet sugar and 335,000 tons of cane sugar was placed under loan. 

USDA has released estimates of the 1996 cost of production for sugar crops. The
U.S. national average cash costs of production fell 4 percent for sugarbeets
and 1 percent for sugarcane. 

The proposed merger between Imperial Holly and Savannah Foods, and Industries,
Inc. is expected to be completed before the end of the year. Analysis of the
sugar market indicates that the share of the sugar market held by the top four
firms could rise to 83 percent in 1998, up from 74 percent in 1997.
 
High fructose corn syrup (HFCS) production in calendar year 1997 is projected
at 8.5 million short tons, dry basis, up from 8.2 million tons in 1996.
Expansion of production capacity in recent years has resulted in the 
capacity-utilization rate declining to near 70 percent in 1997. HFCS prices
continue soft.

Mexico has imposed provisional duties on U.S. HFCS. The U.S. Trade
Representative's office has asked Mexico for consultations on the duties under
the World Trade Organization dispute settlement process.

U.S. Sugar 1/
---------------
l/ This report does not contain updates of the world sugar market. 
Production
Production To Rise in 1997/98

U.S. sugar production in 1997/98 (October 1997-September 1998) is projected at
7.635 million short tons, raw value, up 5.3 percent from the revised estimate
for 1996/97.  Beet sugar production is forecast at 4.3 million tons,
representing 56 percent of the total, and cane sugar production is forecast at
3.335 million tons. The beet sugar production forecast would be up 250,000 tons
from last year, and cane sugar would be up 132,000 tons.

Beet Sugar
Sugarbeet area harvested for the 1997/98 crop is projected at 1.43 million
acres, up 8 percent from 1996/97 when acreage was depressed by bad weather and
the relatively high prices of alternative crops. According to the National
Agricultural Statistics Service's (NASS) June Acreage report, sugarbeet area
planted for 1997/98 is 1.46 million acres, up 10,000 acres from the March
Prospective Plantings report estimate of 1.45 million.

Minnesota/Eastern North Dakota

The region with the largest share of U.S. sugarbeet acreage is Minnesota and
eastern North Dakota, where 1997/98 acreage harvested is forecast at 675,000
acres, 47 percent of the U.S. total. The spring floods along the Red River
Valley have not affected the region's overall sugarbeet acreage this year,
although there were localized impacts.  Planting progress was delayed in some
areas, but for the region as a whole planting was about average.

In early summer there were areas of dryness, but crop progress to early
September has been about average. Through September 6, the percentage of
Minnesota and North Dakota sugarbeets in good or excellent condition were 61
and 70 percent, respectively, while the percentages in poor or very poor
condition were 6 and 13 percent, respectively.

The Minnesota and North Dakota sugarbeet crops are forecast to total 12 million
tons, down slightly from last year's 12.2 million and below the record 12.7
million tons in 1994/95. The yield for the two States is forecast at 17.8 tons
per acre, lower than the last 3 years.

The region's sugarbeet slicing capacity continues to expand. The Minn-Dak
Company in Wahpeton, North Dakota, is in the second year of a 3-year acreage
expansion which will take the cooperative's total acreage from an initial
70,000 acres, to 92,000 this year, and to about 100,000 acres in the final
phase next year. Part of this increased capacity is due to the addition of two
more sugarbeet storage sheds this fall, bringing the total to three.  Each shed
can hold about 80,000 tons of sugarbeets and allows the factory to continue to
slice beets an additional 10-12 days in the spring.

The region's largest cooperative is American Crystal Sugar Company, with five
factories and 12 storage sheds. Last year, American Crystal harvested a record
8.3 million tons of sugarbeets, and although acreage is up this year, crop
progress to date does not indicate another record.  In August, American Crystal
announced an expansion of sugarbeet acreage from the 1997/98 level of about
437,000 acres to 500,000 acres, with the approximately 60,000-acre (14 percent)
increase being spread out over the next 2 years.

Cooperatives typically require that farmers own one share of cooperative stock
for each acre of sugarbeets delivered, although adjustments can be made that
allow deviations of the one-to-one relationship between stock ownership and
acres. For example, in some years the prospect of poor yields due to weather
results in requests from the cooperative for farmers to "overplant."  American
Crystal had last expanded by 20,000 acres a year ago. American Crystal's
factories are currently operating at capacity, and the expanded sugarbeet
production next year is to be accommodated by an expansion of the Hillsboro
factory after the 1997/98 slicing campaign is over.

Michigan/Ohio

Sugarbeet acreage is making a comeback in Michigan, and harvested area is
forecast at 160,000 acres. After reaching a record high 188,000 acres in
1995/96, acreage harvested sank to an 8-year low of 130,000 acres in 1996/97
due to relatively high alternative crop prices and bad weather. Acreage
harvested in Ohio peaked in the early 1970's at 41,000 acres, but dropped to
4,600 acres last year, and less than 1,000 acres for 1997/98.  As a result of
lower acreage, the sugarbeet factory in Fremont, Ohio did not operate in
1996/97, nor 1997/98. Any sugarbeets grown in Ohio will be shipped to a
Michigan factory, as will about 3,500 acres grown in Ontario, Canada.

The NASS September Crop Production report indicates Michigan sugarbeet yields
at 19.0 tons per acre, the highest since 1990. Planting and emergence in
Michigan were early this spring, crop progress is ahead of average so far with
a boost from August rains, and campaigns are likely to start in early October,
well ahead of last year.

Great Plains

Acreage planted for the 1997/98 crop is up 14 percent over last year in the
Great Plains States, which consist of Montana, Wyoming, Nebraska, Colorado,
Texas, and New Mexico. About  275,000 acres were planted, and the September
Crop Production report forecasts that 264,000 acres will be harvested in the
region.  Acreage harvested in Colorado is up 31 percent from last year and is
the highest since 1981. Colorado acreage is currently limited by factory
capacity, but may rise next year as capacity at the Fort Morgan factory is
expected to increase with the addition of a thick juice tank. In some beet
factories, the limitation on slicing capacity is not the initial slicing
machinery, but the crystallization process.  By diverting some of the juice to
storage, a faster rate of beet slicing than crystallization is maintained,
allowing more beets to be processed. After the regular campaign, the thick
juice is then converted into crystalline sugar.

Crop progress through early September has been mixed. In Colorado, as of
September 7, 84 percent of sugarbeets were in good or excellent condition, and
yields are projected up 6 percent from last year to 21.4 tons per acre. In some
new growing areas of Nebraska especially, indicated yields are excellent, and
State-wide yields in Nebraska and Wyoming are projected up 8 percent and 6
percent, respectively. Montana yields are expected to be down 6 percent to 21.2
tons per acre, as many areas replanted extensively in the spring.

In mid-September some factories of Montana and Wyoming will begin "early
harvest" when only those beets that can be processed immediately will be
harvested.  In early October, the full harvest will commence for all the
regions' factories, and all remaining sugarbeets will be stored in piles which
will be sliced until February or March. Great Plains factories typically run
about 5 months, including the thick juice campaign.

Northwest

Area harvested in Idaho is forecast up 6.5 percent to 196,000 acres, in part
due to the prospects of continued strong sugarbeet prices and the decline in
prices of alternative crops, such as wheat and potatoes. Sugarbeets are making
a comeback in the State of Washington, and area harvested this year is forecast
up 40 percent to 18,200 acres. Area harvested in Oregon is up 5 percent to
17,100 acres.  Beets from southern Oregon are delivered to factories in
California, and beets in west-central Oregon are delivered to the factory in
eastern Oregon.

Yields in Washington are projected at 36.2 tons per acre, the highest in the
country and up 2 percent from last year. The farmers in Washington currently
deliver beets long distances to California and Idaho, but a factory being built
in Moses Lake, Washington is expected to be ready in fall 1998. In Idaho,
yields are slightly better than average, and USDA is forecasting 25.2 tons per
acre, compared with 24.8 tons per acre last year.  Early harvest began in Idaho
September 8, and full harvest (piling of beets) will begin around October 1.

California

California's sugarbeet area planted jumped 31 percent to 110,000 acres for
1997/98, after dropping below 100,000 acres last year for the first time since
1945.  Stronger sugar prices and lower prices for alternative crops have
contributed to the acreage rebound. Cotton acreage in California is down
100,000 acres from 1996, due to 2 years of pest problems, high costs of pest
control, and stagnant cotton prices.  While acreage of some permanent crops
such as grapes and almonds has been rising as sugarbeet acreage has fallen,
there is limited room for expansion of those crops before prices fall
significantly, while for sugarbeets there remains a support program.

California yields are forecast at 28.0 tons per acre, 5 percent below last
year's record, but well above the most recent 10-year average of 27.1 tons. Of
the State's four factories, three will be processing in the fall. The
northernmost factory, Woodland, can process as many as 250 days or longer. 
From late August to early October, Woodland processes beets from northern
California which were planted about 8-9 months earlier, and then begins to
process beets coming from Washington and Oregon, continuing until mid-January. 
The Tracy factory, in San Joaquin County, runs from mid-September until
November (although this year it will end earlier, in late October) slicing
nearby beets, and then from April to mid-June slicing beets planted the
previous fall. Tracy has been obtaining spring beets by rail from about 6,000
acres in the Imperial Valley, although this arrangement involves very high
transportation costs.

The Mendota factory, in Fresno County, processes beets from April through 
mid-October.  The southernmost factory, Brawley, in the Imperial Valley along
the Mexican border, processes beets from April through early August, and
continues to crystallize thick juice into September.

Cane Sugar

Forecasting 1997/98 Cane Sugar Production

The first NASS forecast of 1997/98 area, yield, and production of sugarcane for
sugar will be in the December Crop Production report.  Until then, sugarcane
production forecasts include sugarcane used for both sugar and seed.  USDA's
Interagency Sugar Estimates Committee forecasts sugarcane area used for seed
for each State based largely upon the latest 5-year average, or an olympic
average (in which the highest and lowest numbers are dropped before
constructing an average of the remaining numbers). For the recovery rate of
sugar from the cane, an average or olympic average recovery rate is also
usually assumed.  

Florida's sugarcane area in 1997/98 is essentially unchanged from last year at
438,000 acres (table 10). Area harvested for seed is forecast at 4.6 percent or
20,000 acres, consistent with the previous 5-year olympic average of 4.5
percent for seed; and area harvested for sugar is thus 418,000 acres.  New
rotation practices in Florida have increased the percentage of area required
for seed in recent years.  The resulting sugarcane production (for sugar only)
forecast, using the NASS yield of 34 tons per acre, is 14.2 million tons. Crop
conditions so far are about average, and yield is forecast at 34 tons per acre,
up 3 percent from 33.1 tons last year, which yields an estimated 14.2 million
tons of sugarcane for sugar. Applying the 5-year olympic average recovery rate
of 12.17 percent results in a sugar production forecast of 1.73 million tons.

Louisiana sugarcane area for sugar and seed is up in 1997/98 to 410,000 acres,
above the record 400,000 acres of 1995/96. Crop production is expected to be a
record with favorable weather, wider use of a new high-yielding variety, and
increased use of more efficient mechanical combine harvesters. Growth in
Louisiana during July was exceptional because of timely rains and hot weather. 
As of September 6, 77 percent of sugarcane was in good or excellent condition,
while 2 percent was in poor condition.  Planting of cane, which will first be
harvested for the 1998/99 crop, made excellent progress in early September as
farmers took full advantage of the dry weather.  By September 6, 55 percent of
cane plantings were done, compared with 18 percent last year and an average of
36 percent. Louisiana's sugar production is forecast at 1.15 million tons,
based on an assumed recovery rate of 11.21 percent (table 10).

For Hawaii, the NASS September 1 estimate of 1997/98 area for sugar and seed is
35,000 acres, down 24 percent from last year.  The NASS crop year for Hawaii is
the calendar year, so this sugarcane crop forecast applies to January 
1-December 31, 1997.  The Interagency Sugar Estimates Committee forecast for
Hawaii's 1997/98 (October-September) sugar production is 340,000 tons, based
largely on surveys of the industry.  Hawaii's sugar production was over 1
million tons as recently as 1986.

After a poor crop in 1996/97, due in part to a 4-year drought, Texas is
projected to produce 90,000 tons of sugar in 1997/98.  Although rains have
helped replenish reservoirs which provide water for irrigation, water is still
short, and yields are down.  Puerto Rico is projected to produce 25,000 tons,
about the same as 1996/97.

Sugar Production in 1996/97
 
Sugar production in fiscal year 1996/97 is estimated at 7.25 million tons, raw
value (table 24), 4.05 millions of beet sugar and 3.2 million tons of cane
sugar.

Beet sugar production for the first 10 months of 1996/97 (October-April)
totaled 3.7 million tons, accounting for 91.6 percent of the forecast for the
year. For the previous 3 years, beet sugar production in the first 10 months
averaged 90.4 percent of the year's total. To meet the forecast, output in the
last 2 production months of fiscal 1996/97, August and September, needs to be
340,000 tons, below the latest 3-year average for August and September of
400,000 tons, raw value. It is anticipated that beet slicing operations will
start later than average this year.

Cane sugar production for 1996/97 is estimated at 3.2 million tons, down 7
percent from the year before. Final sugar production levels, in million tons
raw value, are as follows: Florida (1.68), Louisiana (1.05), Texas (.09), and
Puerto Rico (.03).  Hawaii produces sugar year-round, and through the first 10
months of fiscal 1997 (October-July) produced 228,000 tons. To meet the
forecast of 360,000 tons, Hawaii will need to produce 132,000 tons in August
and September, which is the same as the latest 3-year average for those 2
months. Even with lower acreage than last year, Hawaiian sugar production in
August and September is expected to at least equal last year's because of good
weather.

Forecasting Sugar Production, Deliveries, and Stocks-to-Use Ratio

Forecast projections are inexact but necessary to provide information for
policy management. Monthly changes in projected season-ending stocks bear the
brunt of changes in the other key variables in sugar supply and use (production
and deliveries, for example). The 5-year average difference of September's
projection from the final estimate is 16 percent over fiscal 1992 to 1996.
Generally, as the fiscal year progresses, the difference from final tends to
decrease. For comparison, the 15-year average September projection for U.S.
season-ending stocks differs from the final estimate by 24 percent for corn, 42
percent for sorghum, and 12 percent for barley.

Forecasts of beet sugar production in late summer vary due to changes in
weather which affect yields, harvest timing, winter storage of the beet piles,
and slicing activity through spring.  Forecasts of deliveries vary due to
changes in demand among end-users and relative prices. Figures 1-6 indicate the
monthly differences of fiscal year (October-September) projections published in
the Sugar & Sweetener Situation & Outlook report.  The data are differences
from the final actual figure, plotted beginning with the projection published
in the June prior to each fiscal year.

Consumption

Sugar Deliveries Growth in 1997/98 Forecast at Long-Run Trend 
 
U.S. sugar consumption (measured by total sugar deliveries) for 1997/98 is
forecast at 9.9 million tons, up 1.5 percent or 150,000 from the revised
estimate for the current year. This growth rate is below the most recent 
10-year average annual growth rate of 1.9 percent. However, sugar deliveries
grew at an annual rate of only 1.4 percent for the latest 5-year period of
1991-96, compared with an annual rate of 2.3 percent for the previous 
5-year period of 1986-91. 

Sugar Consumption During 1996/97
 
USDA's forecast of 1996/97 sugar consumption is 9.75 million short tons, raw
value. Through the first 10 months of the 1997 fiscal year, October-July,
deliveries were 7.95 million short tons, raw value, or about 81.5 percent of
the forecast level. The latest 5-year average October-July deliveries as a
share of the fiscal year total is 81.2 percent. If this average holds for
fiscal 1997, deliveries would exceed the current forecast. In September 1996,
there were shortages of sugar in some parts of the country, and deliveries were
reduced significantly below what they would likely have been without the
shortages. It is expected that there will not be any similar shortages this
year due to plentiful stocks and indications that some buyers are requesting
earlier than average purchases from new-crop sugar. 

The pattern of growth of quarterly sugar deliveries over the previous year is
not stable (figure 8). However, the pattern of changes in quarterly deliveries
over the immediately preceding quarter is much more stable (figure 7) and
provide a better forecasting tool. For example, the current USDA forecast of
U.S. sugar deliveries of 9.75 million tons for fiscal 1997 would require 
July-September deliveries of 2.63 million tons, which would represent an
increase of 7.7 percent over the April-June 1997 quarter. This increase would
be lower than 4 of the past 5 years, and is lower than the most recent 
10-year average of 9.7 percent.

Similarly, one can analyze the two 6-month periods of a fiscal year, 
October-March and April-September. As with quarterly deliveries, the pattern of
6-month delivery changes from the previous year varies a great deal (figure
10), while the pattern of 6-month delivery changes over the immediately
preceding 6-month period is more stable (figure 9). For example, USDA's
delivery forecast of 9.75 million tons for fiscal 1997 requires 5.06 million
tons to be delivered during April-September 1997, up 8 percent over the October
1996-March 1997 period. The 10-year average increase of April-September over
the preceding October-March is 6.3 percent. Table 13 has delivery details by
month and quarter. 

Trade
 
U.S. Raw Cane Sugar Import TRQ for Fiscal 1997/98 Set At 1.8 Million Metric
Tons

The initial raw cane sugar import tariff-rate quota (TRQ) for 1997/98 was set
on September 17, 1997, at 1.8 million metric tons, raw value (1.984 million
short tons). The raw sugar TRQ is allocated to 40 countries, including Mexico
which is allocated under North America Free Trade Agreement (NAFTA) provisions.
Under an administrative plan similar to that of fiscal 1996/97, three tranches
of 200,000 metric tons each are reserved until January, March, and May 1998. In
each of those months, if the ending stocks-to-use ratio published in the
monthly World Agricultural Supply and Demand Estimates (WASDE) report is at
15.5 percent or lower (rounded to one tenth of a percent), then that month's
200,000-metric-ton tranche will be made available for allocation by the United
States Trade Representative (USTR), otherwise it will be canceled. The entire
1.8 million tons of the announced raw sugar TRQ, minus any forecasted
shortfalls, is forecast to be entered during fiscal 1997/98 in the monthly
WASDE report, until or unless a cancellation is made. 

During fiscal 1997/98, USDA will continue to monitor the import requirements
necessary to meet U.S. domestic demand and may, at any time, increase the size
of the TRQ to ensure sufficient sugar supplies in the U.S. market. Further TRQ
increases, if necessary, will be made on the basis of the most reliable supply
and use information available. Any additional increase will not affect the
stocks-to-use percentage trigger or any remaining allocations or cancellations
of the originally announced TRQ. 

Shipping patterns were established on a quarterly basis for the largest three
TRQ-holders, and on a semi-annual basis for the next nine largest TRQ-holders.
Brazil, the Dominican Republic, and the Philippines will be allowed to ship up
to 25 percent of their initial allocation during each quarter of fiscal
1997/98. Argentina, Australia, Colombia, El Salvador, Guatemala, Nicaragua,
Panama, Peru, and South Africa will be allowed to ship up to 50 percent of
their initial allocations in the first 6 months of fiscal year 1998. Unentered
allocations, during any quarter or 6-month period, may be entered in any
subsequent period. All other countries may ship their allocation at any time
during the fiscal year. Should country allocations result from the January,
March, and May stocks-to-use trigger, they may be entered subsequent to their
allocation by the U.S. Trade Representative. 

Though there is an allocation of 25,000 metric tons, raw value, to Mexico under
NAFTA provisions in both the raw cane sugar TRQ and the refined sugar TRQ,
Mexico is limited to a combined total of 25,000 metric tons under both
categories. Thus, total allowable entries in fiscal 1997/98 under the combined
raw and refined TRQs is equal to 1.825 million metric tons (2.01 million short
tons), which is the sum of the raw TRQ (1.8 million metric tons) plus the
refined sugar TRQ (50,000 metric tons) minus 25,000 tons (to avoid double
counting with regard to Mexico). 

The refined sugar TRQ of 50,000 metric tons, raw value, is allocated as
follows: 25,000 metric tons under NAFTA provisions to Mexico; 10,300 metric
tons to Canada; 2,954 metric tons to Mexico under a separate (non-NAFTA)
agreement; and the remaining 11,746 metric tons on a first-come, first-served
basis, of which 4,656 metric tons is reserved for specialty sugars.

Total forecast imports, 2.37 million short tons, are comprised of the TRQ (2.01
million short tons), imports of liquid sugar under Harmonized Tariff Code
1702.90.4000 (50,000 short tons), quota-exempt sugar for re-export (300,000
short tons), and quota-exempt sugar for polyhydric alcohol (10,000 short tons). 

Recently, imports of a liquid sugar in tariff code 1702.90.4000 have been
increasing. This category, outside the TRQ, is liquid sugar which has over 6
percent by weight of non-sucrose solids. Some of the entries under this
category are raw cane sugar from Australia, which is liquefied in Canada and
then trucked into the United States where some of the non-sucrose solids are
removed, and the remaining low-grade liquid sugar is sold for use in certain
food product formulations. Imports under this category were 16 million liters
last year, over 8 million liters for January-June 1997, and 6 million liters in
July 1997. Although the precise conversion to weight is not known, liquid sugar
is heavier than water and 8 million liters would likely weigh at least 10,000
metric tons. The value of imports has increased to over $6 million in 
January-July 1997, from about $1 million in all of 1996.

The import tariff on 96-degree raw sugar imports is 0.625 cents a pound, and
1.66 cents a pound for refined sugar. Countries with special preferences such
as the Generalized System of Preferences (GSP), Caribbean Basin Countries
(CBI), and Andean Preference countries have the low duty waived. The tariff on
imports above the TRQ is 36.86 cents a kilogram (16.72 cents a pound) for raw
cane sugar in 1997, and 38.90 cents a kilogram (17.65 cents a pound) on refined
sugar. 

United States and Canada Settle Sugar Trade Dispute

The United States and Canada reached an agreement on September 8, 1997, in
which Canada will not challenge the use of the U.S. sugar-containing products
re-export program. The United States has agreed to allocate to Canada its
historical share of refined sugar and sugar-containing products in two TRQs,
but overall Canadian access to U.S. TRQs remains unchanged. The terms of the
settlement agreement stipulate that:

o Beginning in fiscal 1997/98, the United States will allocate to Canada a
share of the in-quota quantity of the U.S. TRQ for refined sugar (Additional
U.S. Note 5(a) to Chapter 17 of the Harmonized Tariff Schedule) of 10,300
metric tons, raw value, for sugar that is a product of Canada.

O A share of the in-quota quantity of the U.S. TRQ for sugar-containing
products (Additional U.S. Note 8 to Chapter 17 of the Harmonized Tariff
Schedule) of 59,250 metric tons (commercial weight of the products) for 
sugar-containing products that are the product of Canada. These products are
typically dry crystal mixes, cake decorations, and confections. The total TRQ
for the category is 64,709 metric tons. 

Canada will also be permitted to compete for any quantity of the refined sugar
TRQ that is not allocated among supplying countries and is not reserved for
specialty sugar, without regard to whether the share allocated to Canada for
that period has been filled. The settlement agreement also allows the United
States to transfer any unused quantity of Canada's sugar-containing products
allocation to the portion of that TRQ that is not allocated among supplying
countries, if Canada informs the United States that it cannot fill its share. 

The U.S. re-export program for sugar-containing products gives licensed
manufacturers the ability to obtain sugar at the world price, provided that
they re-export a like amount of sugar contained in products within 18 months.
The volume of transfers under this program are forecast at 140,000 short tons
for fiscal year (FY) 1997 and 100,000 tons for FY 1998.

Stocks and Prices
 
Beginning Stocks Projected Higher in 1997/98
 
Beginning stocks for FY 1998 are forecast at 1.55 million tons, up 62,000 tons
from beginning stocks of 1.49 for 1996/97. According to USDA's Sweetener Market
Data, compiled and published by the Farm Service Agency, sugar stocks on August
1, 1997, totaled 2.3 million tons, up 400,000 tons from a year earlier (table
17). Beet processors held 1.08 million tons, 47 percent of the total, up
389,000 tons from a year earlier, reflecting in part a larger crop, but also a
desire to preserve stocks to fulfill sales commitments in the April-September
period. The remaining stocks were held by cane mills, 591,000 (26 percent), and
cane sugar refiners, 625,000 tons (27 percent). No stocks were held by USDA's
Commodity Credit Corporation (CCC). 

Beet sugar processors are holding more stocks than last year when beet stocks
were exceptionally low in some parts of the country. During the previous years
when sugar marketing allotments were in effect, such as during FY 1995, some
companies were essentially forced to hold stocks by the allotment mechanism,
but now stockholding is a function of the production and marketing decisions of
the companies involved.

Wholesale refined beet sugar prices (f.o.b. plant, Midwest markets) have
recently declined to 26.50 cents a pound from levels around 29 cents a pound
earlier in the year. The prospective increase in sugarbeet acreage and the
corresponding 400,000-ton rise in the forecast beet sugar crop is responsible
for much of the softening in refined prices. U.S. raw sugar prices (nearby
futures, c.i.f., duty-paid, Contract No. 14, New York) averaged 22.22 cents a
pound in the first 11 market days of September, compared with 22.21 cents in
August and 22.04 in July. In the 3 days following the TRQ announcement on
September 17, raw sugar prices strengthened. 

Programs & Policy 

New Definition of Crop Year

USDA has established a new definition of crop year, changing it from a 
July-June to an October-September basis, effective June 27, 1997. The purpose
of this new definition is to be consistent with the fiscal year, thus providing
a better fit for sugar program administration and analysis. Another result of
the change is that processors will be able to pledge any sugar they have for
CCC loans during the months of July, August, and September. These loans would
be limited to a total of 9 months, and would need to be paid off September 30
and repledged October 1. Previously, only processors who normally harvest in
those months could pledge sugar for CCC loans, and only on sugar from the new
crop year.

Commodity Credit Corporation (CCC) Loans

During the 1996 crop year, a total of 577,000 tons of refined beet sugar was
placed under loan through CCC USDA offices in Michigan, Utah, and Texas. As of
August 26, 1997, 482,000 tons had been redeemed, and 95,000 tons remained under
loan, all in Utah. Cane sugar placed under loan in Florida, Louisiana, and
Texas amounted to 335,000 tons, raw value; and as of August 26, 216,000 tons
had been redeemed, leaving 119,000 tons under loan, mostly in Florida. Hawaii
has not utilized the CCC loan program in recent years. Sugarbeet and sugarcane
loan rates for the 1997 crop year are unchanged from last year (table 23).

Cost of Production
Preliminary Cost of Production for the 1996 Crop

Preliminary cost of production data are available for the 1996 crop for
sugarbeets, sugarcane, and the processing of cane and beet sugar
(table 46-51). The costs will not be final until after State-level crop prices
are published next year. U.S. average cash costs per acre dropped about 4
percent for sugarbeets and 1 percent for sugarcane, while processing costs rose
3 percent for beet sugar and 2 percent for cane sugar.
 

U.S. Corn Sweeteners  
 
Corn production in 1997/98 (September/August) is projected at 9.3 billion
bushels, virtually unchanged from 1996/97. Corn plantings were up about 1
percent to 80 million acres. Food, seed, and industrial (FSI) use of corn in
1997/98 may total 1,780 million bushels, up 5.3 percent from 1996/97. Use in
corn sweeteners is expected to increase 4.0 percent. 
 
Corn sweeteners represent over 8 percent of the projected domestic use of the
1997/98 crop, and 44 percent of FSI use. For 1997/98, corn used for high
fructose corn syrup (HFCS) is expected to total 530 million bushels, up 5.0
percent from the previous year. Corn used for glucose syrup and dextrose is
expected to total 245 million bushels, up 2.1 percent (table 38).

U.S. HFCS production in calendar 1997 is projected to rise to 8.5 million short
tons, dry basis, up from 8.2 million tons in 1996 (table 41). This projection
is based on the 1991-96 trend, excluding the high and low years. HFCS
production continues to expand with higher soft drink consumption, new types of
beverages, and increases in HFCS production capacity. HFCS-55 production is
forecast at 5.4 million tons, up 300,000 tons, and HFCS-42 at 3.1 million, up
25,000 tons.

Text Box A

Origin of the United States Sugar Import Tariff-Rate Quota Shares 

by Nydia Suarez

The current U.S. tariff-rate quota (TRQ) on sugar imports had its origins in
1982. Presidential Proclamation No. 4941 of May 5, 1982, established a system
of country-by-country sugar quotas to replace a previous quota system. Under
the Proclamation, the U.S. Trade Representative (USTR) was responsible for
making all announcements and determinations concerning country quota
allocations, while the Secretary of Agriculture was responsible for making all
announcements and determinations concerning quota periods and global quota
amounts.

Procedure Used To Obtain Country Allocations

The following procedure was used to determine country sugar quota allocations.
First, data on U.S. sugar imports (by country) for calendar years 
1975-1981 were obtained from the U.S. Customs Service (tables 1 and 2). Second,
refined sugar imports were converted to a raw value equivalent by multiplying
refined sugar imports by 1.07. Total sugar imports are the sum of raw imports
plus the raw value equivalent of refined imports. Third, the highest and lowest
observations for each country were discarded and the remaining five
observations for each country totaled. Fourth, the five-observation totals for
each country were added to obtain a total for all countries. The fifth and
final step was to divide each country's five-observation total by the total for
all countries (table 3), creating the basis for each country's share.

Initial Modifications to the Country-by-Country Quota System

In the case of quota allocations for "other specified countries and areas,"
regulations were issued by the Secretary of Agriculture on August 11, 1982, to:
1) make specific allocations to a group named "other specified countries and
areas" allowing each country classified in this group to ship either its pro
rata share of .3 percent of the base import quota or 16,500 short tons,
whichever was greater; 2) establish a certificate of quota eligibility (CQE)
system; 3) shift from quarterly to annual quotas; and 4) modify the quota
allocations. At the same time, Barbados, Trinidad-Tobago, Bolivia, India, Fiji,
Zimbabwe, and Malawi were given individual percentage quota allocations. 
France, Anguilla, Antigua, Dominica, Grenada, Saint Lucia, Saint Vincent and
the Grenadines, Montserrat, British Virgin Islands, Tonga, and Nauru were
completely removed from the quota allocation system. This left Mexico, Haiti,
Paraguay, Saint Christopher-Nevis, Madagascar, and Cote D'Ivoire as the
remaining countries classified as "other specified countries and areas."

It was found that the quota system established on May 5, 1982, had prevented
the importation of certain refined sugars used for specialized purposes and
originating in countries which did not have quota allocations. This led the
Secretary of Agriculture on June 23, 1983, to announce in the Federal Register
that the base import quota for the period October 1, 1982-September 30, 1993
was increased from 2,800,000 short tons, raw value to 2,802,000 short tons, raw
value, to allow the importation of  2,000 short tons, raw value of specialty
sugars.

The USTR announced that the quota for imports of specialty sugar would be
allocated at 80 short tons, raw value, for each of the following 25 countries:
Belgium; Burma; Cameroon; People's Republic of China; the Congo (Brazzaville);
Denmark; France; Federal Republic of Germany; Hong Kong; Indonesia; Ireland;
Italy; Japan; Kenya; Luxembourg; Uruguay; Netherlands; Netherlands Antilles;
South Korea; Surinam; Sweden; Switzerland; United Kingdom; Venezuela, and
Yemen. 

There have been occasional adjustments, mostly temporary, in the country quota
allocations during the last 15 years, for example for Nicaragua, South Africa,
and Haiti. In September 1983, the USTR added the Congo (Brazzaville) and
Uruguay to the category known as "other specified countries and areas,"
increasing the number of countries in this category from six to eight, and
removed these two countries from the list of countries with a specialty sugar
import quota allocation.  Later in September 1983, Gabon and Papua New Guinea
were added to the list of "other specified countries and areas," bringing to 10
the number of countries in that group. This set of countries is sometimes
referred to as the "minimum boatload" group.

It was found that the origin of some of Malawi's shipments to the United States
during calendar years 1975-1981 was not correctly identified. The error
resulted in a percentage allocation for Malawi which is .3 percent less than it
would otherwise have been, and Malawi's share was subsequently adjusted.

Modifications to the Sugar Quota System in the 1990's
Effective October 1, 1990, the United States modified the previous absolute
quota system, replacing it with a TRQ. Under the TRQ, a limited level of
imports is allowed to enter the United States at a low (first tier) tariff; any
imports beyond that level are assessed a high (second tier) tariff which is
practically a prohibitive rate. The country allocation system was left in
place.

In the tariff schedule submitted by the United States, which implemented the
results of the Uruguay Round GATT negotiations, effective January 1, 1995, the
country allocations were not specified in the U. S. Harmonized Tariff Schedule.
The United States agreed in the Uruguay Round to provide low-duty access for a
minimum of 22,000 metric tons, raw value, of sugars which are usually referred
to as "refined sugar," and 1.117 million metric tons, raw value, of raw cane
sugar.

A country-by-country allocation system continues to be used for the raw cane
sugar TRQ imports. For the refined sugar TRQ, the country-by-country
allocations were dropped beginning in fiscal year 1996 in favor of a globalized
(first-come, first-served) system. Beginning in fiscal 1997, imports of
specialty sugar under the refined sugar TRQ, previously allocated to 23
countries, were also globalized. Beginning with fiscal 1998, Canada and Mexico
have been given individual allocations of the refined sugar TRQ, the rest of
which remains globalized.

Text Box B

Changing Structure of the U.S. Refined Sugar Market

Ron Lord & Robert D. Barry

There has been increased concentration among U.S. sellers of refined sugar in
recent years. When most of the assets of Spreckels Sugar Co. were acquired by
Imperial Holly Corp. in 1996, the number of  refined sugar companies in the
United States dropped from 10 to 9 (table 41). The nine can be classified as
beet, cane, and combination beet-and-cane ("straddle") sellers. 

In 1997, the three beet companies are Monitor Sugar Co., in Michigan;
Amalgamated Sugar Co., in Idaho and Oregon; and United Sugars Co., in
Minnesota. United Sugars was formed in 1994 to market the sugar of the three
beet sugar producing cooperatives in Minnesota and North Dakota. The three
refined cane sugar sellers are Florida Crystals, in Florida (also a producer
and seller of raw cane sugar); Refined Sugars Inc., in New York; and California
and Hawaiian (C&H) Sugar Co., in California. Then there are the three
"straddle"
companies which produce and sell both refined beet and cane sugar: Tate & Lyle,
which owns Domino Sugar Co. (cane) and Western Sugar Co. (beet); Savannah Foods
& Industries, which owns Savannah Sugar Co. (cane) and Michigan Sugar Co. and
Great Lakes Sugar Co. (beet); and Imperial Holly Co., which owns Imperial Sugar
Co. (cane), Holly Sugar Co. (beet), and Spreckels Sugar Co. (beet).

Several developments in 1997 portend significant changes in the business of
sugar marketing. In the spring, a large sugarcane processor in Florida, the
U.S. Sugar Corporation, announced that it would build a sugar refinery on the
property of its Clewiston, Florida, sugarcane mill, with capacity of around
500,000 tons of sugar per year and the potential to expand further. The
refinery is expected to be in operation in early or mid-1998. The total
capacity of the U.S. cane sugar refining industry is currently about 6.8
million tons a year, and the U.S. Sugar Co. facility would add another 7
percent.

The annual demand for cane sugar in the United States is essentially a residual
between total sugar demand and beet sugar production. Although a simplification
of reality,  it can be assumed that all beet sugar produced will be sold. In
the last 2 years, the combination of lower beet sugar production and increasing
demand has resulted in larger imports of raw cane sugar, higher utilization of
cane sugar refining capacity, and higher cane refiner margins. Increased future
market share for cane sugar, and thus a need for more cane refining capacity,
will occur only if sugar demand growth exceeds beet sugar production growth.
The annual trend growth in sugar demand over fiscal years 1986-1996 has been
160,000 tons, raw value, compared with a trend growth in beet sugar production
over the same 10 years of 102,000 tons a year. If this trend continues, there
would be an average annual increment of about 60,000 tons in cane sugar
requirements.

The entry of the U.S. Sugar Co. into the refining business might have increased
the number of sellers of refined sugar to 10. However, it was subsequently
announced that all of U.S. Sugar Co.'s refined sugar will be marketed by United
Sugars Co., which currently markets the beet sugar for the three beet sugar
cooperatives in Minnesota and North Dakota. If this proposed arrangement
occurs, United Sugars Co. would account for over 20 percent of the refined
sugar market (table 4), and would be able to increase its presence in the
southeastern and eastern parts of the country. In another development, United
Sugars Co. has announced a licensing agreement with Pillsbury Company to create
and market a Pillsbury Best brand of sugar.

Savannah Foods and Industries, Inc., the second largest cane refiner in the
United States (table 4), has announced its intention to be acquired by Imperial
Holly Co. Earlier in July, Savannah had agreed to merge with Florida Crystals,
Inc., a fully integrated cane producer and refiner in Florida. If the Imperial
bid for Savannah is successful, the combined companies would be the largest
seller of refined sugar in the United States, accounting for about a third of
the market.

If the refined sugar output of the U.S. Sugar Co. reaches 500,000 tons as
announced, United Sugars would likely be the second largest seller of sugar
behind the merged Imperial-Savannah Company, with the Tate & Lyle group (Domino
cane sugar, and Western beet sugar) a close third.

One measure of the concentration of an industry is market share. For sugar, as
measured by production capacity, the share of the top four companies has risen
from 51 percent in 1983, to 60 percent in 1989, and 74 percent in 1997 (table
41).  With the pending Imperial-Savannah merger and the prospective joint
marketing arrangement of United Sugars and U.S. Sugar Co. in 1998, the
concentration index for the top four companies could rise to about 83 percent
next year.

Text Box C
HFCS Trade Dispute With Mexico
Jacqueline Salsgiver

In early 1997, Mexico's National Sugar Industry Chamber, the association of
Mexico's sugar producers, accused U.S. corn wet millers of dumping high
fructose corn syrup (HFCS) in Mexico. Mexico's Commerce Secretariat, SECOFI,
responded by imposing temporary tariffs on U.S. HFCS in June. The temporary
tariffs, ranging from $66.57 to $175.50 per metric ton on two grades of HFCS,
apply to shipments from Cargill Inc., A. E. Staley Manufacturing Co., CPC
International Inc., and Archer Daniels Midland Co. The Corn Refiners
Association (CRA) representing the U.S. producers of HFCS, has argued that only
producers of HFCS in Mexico, and not sugar producers, should have legal
standing to bring a dumping claim against imported HFCS.

The World Trade Organization (WTO) may be asked to settle the dispute between
the United States and Mexico if the two sides cannot resolve the issue. If U.S.
HFCS producers win the trade dispute, Mexico's imports of HFCS will likely
continue to grow. U.S. HFCS exports to Mexico have increased throughout the
1990s, with exports of 132,000 tons, dry basis, during October 1996 to June
1997 (figure 13). Mexico's utilization of HFCS, including domestic production,
is approximately 300,000 tons this year.

Mexico's sugar producers are concerned that increased use of less expensive
HFCS will replace domestically produced sugar. Switching from sugar to HFCS
could result in cost savings to industry since HFCS costs 10 to 20 percent less
than sugar. About 1.5 million tons of Mexico's total caloric sweetener use of
4.4 million tons is for beverages and other uses which could utilize HFCS.
However, many of the industrial users of sugar, such as some of the largest
soft drink bottlers, are integrated with sugar producers and have less
incentive to switch to HFCS. More than half of the domestic supply of sugar is
used for household consumption, which could not be substituted by HFCS.

The switch to HFCS in the United States in the 1970s and 1980s was accommodated
by reducing imports through a tariff-rate quota system. For Mexico, the
prospective switch to HFCS would require increased sugar exports due to the
decline in domestic sugar consumption. Mexico's sugar industry attempts to
control supply in the higher-priced domestic market, while exporting the
remainder at the lower world price. The United States is an attractive export
market for Mexico's sugar, since the U.S. price is appreciably higher than the
world price or Mexico's current price (figure 14).
The provisions of NAFTA relating to HFCS include the phasing out of Mexico's
duties from 15 percent initially to zero over 10 years. The scheduled NAFTA
duty for 1997 is 9.0 percent. The sugar provisions in NAFTA, including a side
letter, link duty-free sugar trade access amounts to a "net surplus producer"
formula. The net surplus is calculated as the sum of sugar and HFCS consumption
minus the production of sugar. For the first 6 years, through September 30,
2000, duty-free access is limited to the amount of the "net surplus" but not
more than 25,000 metric tons, raw value. After October 1, 2000, duty-free sugar
access is limited to the amount of net surplus, but not more than 250,000
metric tons, raw value. The NAFTA duty on sugar trade above the 
duty-free levels declines gradually to zero on January 1, 2008.

Mexico has been a net exporter of sugar since 1994 (figure 11). Production has
been increasing throughout the 1990's since the mills were privatized earlier
in the decade. Net exports for 1997/98 are forecast at a revised 650,000 metric
tons. While Mexico's sugar production has been increasing, consumption has
trended downward (figure 12).

As of mid-September 1997, the U.S.-Mexico HFCS trade dispute continues. At this
time, Mexico's sugar industry is reported to be proposing voluntary limits on
the use of HFCS in soft drinks in Mexico. Industry groups in the United States
contend that such agreements may violate provisions of NAFTA which deal with
"anti-competitive" practices.

List of Tables      Page

1. U.S. imports of raw sugar, 1975-81 calendar years
2. U.S. imports of refined sugar, 1975-81 calendar years
3. U.S. sugar imports, 1975-81 calendar years and calculation of import shares
4. U.S. sugar production capacity, by company, 1997
5. U.S. cane sugar refiners: Company, factory location, and capacity 
6. U.S. beet sugar processors: Company, factory location, and capacity 
7. HFCS production capacity in North America
8. North American HFCS production capacity: Shares by company
9. U.S. sugarbeet crops: Acres harvested, yield per acre, and production, by
State and region, 1990-97
10. U.S. sugarcane: Area, yield, production, output, recovery rate, and sugar
yield per acre, crop years 1989/90--1997/98
11. U.S. production of beet sugar and cane sugar by State, monthly, quarterly,
fiscal, calendar, and crop year
12. U.S. sugarbeet area, yield, and production, 1985-97
13. U.S. cane and beet sugar deliveries, monthly, quarterly, and by fiscal and
calendar year
14. U.S. sugar deliveries for human consumption by type of user, quarterly and
calendar year
15. U.S. sugar imports under tariff-rate quota (TRQ), by country
16. U.S. imports of sugar syrup, harmonized tariff code 1702.90.4000, monthly,
1993-97
17. U.S. sugar stocks held by primary distributors, by quarters
18. Monthly estimates of fiscal 1994 U.S. sugar supply and use
19. Monthly estimates of fiscal 1995 U.S. sugar supply and use
20. Monthly estimates of fiscal 1996 U.S. sugar supply and use
21. Monthly estimates of fiscal 1997 U.S. sugar supply and use
22. Monthly estimates of fiscal 1998 U.S. sugar supply and use
23. Sugar loan rates and support levels, by region and States, fiscal years
24. U.S. sugar (including Puerto Rico) supply and use, fiscal years 1991/
92-97/98
25. Sugarbeet prices, by State, 1985-96
26. Sugarbeet and sugarcane prices and crop values, crop years
27. World refined sugar price, monthly, quarterly, and by calendar and fiscal
year
28. World raw sugar price, monthly, quarterly, and by calendar and fiscal year
29. U.S. raw sugar price, duty fee paid, New York, monthly, quarterly, and by
calendar and fiscal year
30. U.S. wholesale refined beet sugar price, Midwest markets, monthly,
quarterly, and by calendar and fiscal year
31. U.S. retail refined sugar price, monthly, quarterly, and by calendar and
fiscal year
32. U.S. spot price for HFCS-42, Midwest markets, monthly, quarterly, and by
calendar and fiscal year
33. U.S. wholesale list price for glucose syrup, Midwest markets, monthly,
quarterly,  and by calendar and fiscal year
34. U.S. wholesale list price for dextrose, Midwest markets, monthly,
quarterly, and by calendar and fiscal year
35. U.S. Consumer Price Index for sugar and selected sweetener-containing 
products
36. U.S. producer price index for HFCS and sugar, monthly 
37. U.S. corn supply and use
38. U.S. wet-milled use of field corn, crop year
39. U.S. (including Puerto Rico) total consumption of caloric sweeteners,
calendar year
40. U.S. (including Puerto Rico) per capita consumption of caloric sweeteners,
calendar year
41. U.S. high fructose corn syrup (HFCS) production, quarterly, fiscal,  and
calendar year
42. U.S. high fructose corn syrup (HFCS) supply and use, calendar year
43. Net cost of corn starch to U.S. wet-millers, Midwest markets
44. U.S. corn sweetener exports to Mexico and Canada, fiscal years 1991-96 and
October 1996-June 1997
45. U.S. corn sweetener imports from Mexico and Canada, fiscal years 
1991-96 and October 1996-June 1997
46. U.S. sugarbeet production cash costs and returns, 1995-96
47. U.S. sugarbeet production economic costs and returns, 1995-96
48. U.S. sugarcane production cash costs and returns, 1995-96
49. U.S. sugarcane production economic costs and returns, 1995-96
50. U.S. beet sugar processing costs, cents a pound of refined sugar, 1995-96
51. U.S. cane sugar processing costs, cents a pound of raw sugar, 1995-96
END_OF_FILE