Imported refined sugar dropped sharply to 66,325 metric tons (MT) from 730,430 MT a year ago, according to the Foreign Agricultural Service of the USDA.
No raw sugar imports are expected in 2025 as the Philippine government prioritizes protecting local producers.
Exports are forecast at 25,000 MT, aligned with the US tariff quota, but further exports are unlikely after September due to domestic production allocations.
There is no anticipated sugar shortage in 2024, as raw sugar stocks have doubled to 394,786 MT, and demand remains low.
The USDA projects local sugar output for 2025 at 1.85 million MT, exceeding the Sugar Regulatory Administration’s forecast due to improved conditions and expanded plantations.
Source: PhilNews24 | October 8, 2024
