Browse Data and Analysis

By early April 2023, many Ukrainian official agencies and private companies published their end-of-the-year results. This report provided valuable insight into wartime macroeconomic and agricultural developments.

FAS Manila forecasts marketing year (MY) 2024 raw sugar production at 1.9 million metric tons (MT). Higher prices encouraged more farmers to plant sugarcane and better fertilization is expected to result in higher production. Post expects limited exports to resume in 2024 given high production and high carryover stocks.

FAS Manila estimates beef production to increase slightly to185,000 MT for 2023 because of efforts of commercial farms to increase production. Beef imports are expected to increase slightly to 260,000 MT in line with population growth.

FAS Manila forecasts MY 2023/24 milled rice production will rebound to 12.55 million MT because of increased government funding to the sector, which is expected to increase fertilizer application. FAS Manila forecasts rice imports flat at 3.6 million MT because of increased local production.

The full-scale invasion launched by Russia in February 2022 sent seismic shocks throughout the Ukrainian economy, with agriculture bearing a direct impact. It led to a breakdown of farming operations due to the fighting and shelling on farm lands, while crippling agricultural logistics out of the country, leaving farmers unable to sell their crops at reasonable prices.

As factories have effectively returned to pre-COVID operations, food and beverage manufacturers have purchased more food and beverage ingredients to address domestic consumption. However, elevated inflation of near six percent remains the primary driver of food and beverage spending.

FAS Manila forecasts copra production at 3 million MT for MY 2023/24 because of the coming El Niño and the break from the 3-year productive cycle. Soybean meal imports are projected to reach 2.9 million MT because of expected expansion in the broiler and aquaculture sectors.

At least 1.25 million poor farmers and 5 million indirect beneficiaries will benefit from Adapting Philippine Agriculture to Climate Change (APA), a $39.3-million project approved to foster climate-resilient agriculture (CRA), and develop the Philippine agriculture sector.