Philippines: Sugar Semi-annual

  |   Attaché Report (GAIN)

Though a minor player in the international sugar market due to its high production costs, the Philippines is the 8th largest sugarcane producer and the third largest U.S. sugar tariff rate quota (TRQ) recipient. Despite a slight drop in area harvested, Market Year (MY) 2013/14 (December/November) raw sugar production is expected to reach 2.45 MMT (up 2.7 percent over MY 2012/13) mainly due to favorable weather conditions, improved farm yields and higher sugar recovery from cane. Total raw sugar exports for MY 2013/14 are expected to total 250,000 MT, roughly half of which will go to the United States under the U.S. TRQ system. Since the beginning of MY 2013/14, domestic sugar prices have risen noticeably due to strong demand from local food processors. The average MY 2013/14 Philippine millsite price for domestically sold raw sugar is nearly double the price of local sugar destined for the world market.

Philippines: Sugar Semi-annual

Exporting
East Asia and the Pacific, Philippines
Sugar

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