Philippines: Sugar Semi-annual
Link to report:
Philippine raw sugar production in MY 2020/21 is projected to reach 2.19 MMT, up two percent from the previous year due to improved sugar cane genetics and farm management. The Philippine Atmospheric, Geophysical and Astronomical Services Administration's recent alert of a likely La Niña event could moderately lower the production outlook, however. Sugar consumption in MY 2020/21 is expected to increase slightly to 2.35 MMT as the economy continues to recover from the COVID-19 pandemic, with higher demand from industrial and institutional users. Meanwhile, sugar imports in MY2020/21 are set to decline due to substantial ending stocks of refined sugar accumulated in MY2019/20. The Philippines may be able to fulfill the U.S. tariff rate quota in MY2020/21, as the Sugar Regulatory Administration allocated a higher portion of production (seven percent) to the U.S. market.
