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The Philippines is the second largest market for U.S. soybean meal (SBM) and the world’s largest coconut oil (CNO) exporter.
Sugar production, trade and domestic prices are largely governed by the Sugar Regulatory Administration (SRA), a government agency under the Philippine Department of Agriculture.
U.S. food and beverage (f&b) exports to the Philippines grew 11 percent in 2014 and reached a record $1.1 billion.
Wheat imports are forecast to reach 3.95 million tons in MY14/15 and to slightly over 4 million tons in MY15/16 due to strong demand as a result of shifting diets of the Philippine middle class.