Philippines: Sugar Annual
Link to report:
Post sees Crop Year (CY) 2021/2022 (September/August) raw sugar production staying flat at 2.1 million metric tons (MT), as low productivity remains an issue amid the continued discussion of trade liberalization. Sugar consumption in CY 2021/2022 is expected to rebound by 200,000 MT from the previous year, with households and institutions driving the recovery as COVID-19 restrictions are loosened. Consumption and imports in CY 2020/2021, on the other hand, are revised down from their previous forecasts by 300,000 MT and 175,000 MT, respectively, due to weaker demand following Philippine government efforts to combat the pandemic. Meanwhile, CY 2021/2022 imports are likely to reach 150,000 MT after dropping to 25,000 MT the prior year, as the economy reopens and beverage manufacturers expand production.
