Philippines: Sugar Semi-annual
Link to report:
Post maintains Marketing Year 2021/22 (September/August) sugar production at 2.1 million MT, 2 percent lower than the previous year. The recently announced La Niña is expected in October or November 2021, coinciding with the start of peak milling, and will likely affect sugar recovery. Area planted in MY 2021/22 is also left unchanged at 390,000 hectares, representing a 2 percent drop from MY 2020/21. With lower production expected, the Sugar Regulatory Administration (SRA) allocated 100 percent of MY 2021/22 production to the domestic market as specified in Sugar Order No. 1 on August 31, 2021. Post therefore lowers the MY 21/22 export forecast to nil, compared to the USDA Official of 140,000 MT, and revises imports down by 50,000 MT to 100,000 MT.
