The Sugar Regulatory Administration (SRA) of the Philippines is preparing to resume the export of raw sugar to the United States next month, according to Administrator and CEO Pablo Luis Azcona. During a recent briefing, Azcona mentioned that sugar exports need to reach the US by September, which means shipments should begin in August.
Azcona noted that in July, the SRA released two draft sugar orders for industry feedback. The US has allocated a quota of nearly 25,000 metric tons of raw sugar for the Philippines this year. Since the US market offers a premium price for raw sugar, Filipino exporters have expressed interest in exporting to the US.
The last time the Philippines exported raw sugar to the US was in 2021, which followed a period of sugar shortage. Azcona explained that the country only exports raw sugar when there is a surplus in production. As of May 12, the country’s raw sugar production had reached 1.92 million metric tons (MMT), surpassing the 1.799 MMT produced the previous year.
Azcona added that exports to the US typically help stabilize local sugar prices during times of overproduction, which usually occurs from January to March, the peak milling season.
Additionally, the SRA, along with Agriculture Secretary Francisco Tiu-Laurel Jr., plans to discuss the potential importation of refined sugar. Laurel had previously stated that the country might need to import at least 200,000 metric tons of refined sugar in September to maintain a stable supply and prevent retail price increases. This importation would cover the supply gap before the milling season starts in October.
As of June 9, the country’s sugar stocks included approximately 436,229 metric tons of physical sugar and 380,835.70 metric tons of refined sugar. (PNA)
