The combined retail value of the 1994 sugarbeet and sugarcane crop was about $5.1 billion.
Production of sugarbeets and sugarcane in 1994 was 59,220,000 tons. After refining losses, there are 235 pounds of sugar per ton of sugarbeets and 195 pounds in a ton of sugarcane. It is estimated that sugar production by source was 6,838,500,000 pounds from sugarbeets and 5,873,400,000 pounds from sugarcane.
For this report, it was assumed that the entire sugar crop was processed into refined white sugar.
According to the Bureau of Labor Statistics, the 1994 retail price for refined sugar was $0.40 per pound. At $0.40 per pound, the 1994 retail value of sugarbeets was $2,735,400,000 and the retail value of sugarcane was $2,349,360,000. The total sugar crop retail value was $5,084,760,000.
Retail Values of U.S. Agricultural Commodities
Awaiting your explanation of how the loss of a sugarbeet crop that sold for less than $2.74 billion can cost the sugar beet states $10 billion.
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