According to the Reuters news service, the USDA recently predicted sugar imports from Mexico would increase substantially over the next 10 years at its annual outlook conference.
In fact, the department predicted U.S. stocks could reach 5.2 million short tons in 2011. The USDA estimates stocks will hit 2.02 million tons this year.
In it's long-term forecast, the USDA projects Mexican sugar imports to nearly double to 264,000 short tons during the 2002 fiscal year and then increase to 810,000 short tons during the 2004 fiscal year as tariffs are removed because of NAFTA.
When the tariffs are completely phased out in 2008, the department predicts imports will reach 1.9 million tons by 2011.