Philippines: Sugar Annual

Post forecasts sugar production in Marketing Year (MY) 2023 to decline by 50,000 MT to 2 million MT, as high fertilizer prices lead to reduced yields. Production for MY 2022 is also lowered to reflect the damage to sugar farms in December 2021 by Typhoon Rai (local name Odette). Lower sugar output prompted the Philippines to allocate 100 percent of its production to the domestic market in MY 2022. Post expects MY2023 exports to also be zero and the Philippines to not participate in the U.S. sugar quota. Meanwhile, MY 2023 consumption is forecast to stay flat at 2.3 million MT, with greater imports expected to help ensure sufficient sugar supply. Philippine media have reported on a draft Sugar Order to authorize 250,000 MT of refined sugar and 100,000 MT of raw sugar imports. At the time of this GAIN report, the Sugar Regulatory Administration has not issued a fourth Sugar Order, but if approved it would contribute to greater imports and consumption.