@article{Koo:7632,
      recid = {7632},
      author = {Koo, Won W. and Taylor, Richard D.},
      title = {2007 Outlook of the U.S. and World Sugar Industries,  2006-2016},
      address = {2007},
      number = {1187-2016-93748},
      series = {Agribusiness & Applied Economics Report No. 614},
      pages = {27},
      year = {2007},
      abstract = {This report evaluates the U.S. and world sugar markets for  2006-2016 using the Global Sugar Policy Simulation Model.  This analysis is based on assumptions about general  economic conditions, agricultural policies, population  growth, weather conditions, and technological changes. Both  the U.S. and world sugar economies are predicted to remain  profitable over the next ten years mainly because higher  world oil prices have increased the conversion of sugar  into
ethanol by Brazil, while other exporting countries  have increased their production in response to those higher  prices. Brazil is the largest exporter of sugar, and it is  expected that the rate of increase in Brazilian sugar  exports may be reduced due to high oil prices. World demand  for sugar is expected to grow at a similar rate to world  supply, resulting in Carribean sugar prices remaining near  the 13.0 -15.0 cents /lb range throughout the forecast  period. The U.S. wholesale price of sugar is projected to  increase slightly from 29.5 cents/lb in 2006 to 29.8  cents/lb in 2016, if Brazil continues to convert sugar into  ethanol. It is projected that Mexico will be able to export  416 thousand metric tons of sugar to the United States by  2016. World trade volumes of sugar are expected to increase  throughout the forecast period.},
      url = {http://ageconsearch.umn.edu/record/7632},
      doi = {https://doi.org/10.22004/ag.econ.7632},
}