Philippines: Sugar Annual
According to Philippine Sugar Regulatory Administration (SRA) data, MY 2014/15 (Dec/Nov) raw sugar production decreased by 15 percent to 2.15 MMT, mainly due to the extended dry weather conditions caused by the El Nino and a noticeable shift in peak harvesting and milling time from NovDec to Jan-Feb. Experts also foresee a possible delay in the start of harvesting next crop year (Sept/Oct 2016/17) due to an anticipated La Nina episode. Industry contacts expect sugar demand to continue rising in MY 2015/16 due to a rapidly developing food processing industry. Post estimates that total raw sugar exports for MY 2015/16 will be about 150,000 MT, which will go to the United States. Since December 2014, millsite prices for domestic raw sugar have increased by as much as 25 percent while molasses prices have risen by 45 percent, reflecting tightness in supply.
