Philippines: Sugar Semi-annual
MY 2016/17 (December/November) total raw sugar production was revised upwards from 2.25 MMT to 2.50 MMT on better-than-expected cane yields resulting from favorable weather conditions during the first half of 2017. Total raw sugar production in MY 2017/18 was raised from 2.30 MMT to 2.38 MMT on projected increases to sugarcane area planted. Raw sugar exports for MY 2017/18 were revised upwards 100,000 tons to 250,000 tons on an anticipated surge in carryover stocks. Consumption in MY 2017/18 is forecast to increase 50,000 tons from the previous year to 2.25 MMT as prices remain soft due to ample supply.
