PH sugar exports on growth track
The Philippines remains a net sugar exporter even with US quota shipments declining this crop year reportedly due to an oversupply in the United States market, the Sugar Regulatory Administration said.
SRA data showed that, so far, the country exported 27,160 metric tons (MT) to the United States, with another 23,600 MT ready to be shipped out by the end of the month.
SRA Administrator Gina Martin said in a statement that exporters are working out a third and final shipment for the year.
Although she did not elaborate on the volume of the third shipment, the Philippines is not expected to fully provide the 144,901 MT of sugar that the United States allowed for the current crop year.
Also, Martin said, the domestic sugar industry’s goal this year of exporting 180,000 MT of sugar to foreign markets outside the United States “appears achievable,” with 78 percent of the volume already shipped out.
She said 141,000 metric tons of sugar has already been shipped out, thanks in part to brisk production.
“As of June 2, sugar production reached 2.448 million MT, or 0.6 percent higher than SRA’s second production estimate of 2.434 million MT for crop year 2012-2013,” Martin said. Production volume “will further increase as three mills are still grinding and some mills that earlier stopped milling are set to restart by August.”
She said the production goal was exceeded because of the increase in area planted to sugarcane, as well as favorable weather conditions which allowed better sugar yield and cane tonnage.
Also, the SRA noted that domestic consumption of raw and refined sugar has increased by 15 percent and 9.5 percent, respectively.
As a result, Martin said, the raw sugar stock balance went down by 2.6 percent compared to the previous crop year, while that of refined sugar stock grew by 12.7 percent.
“High demand of sugar-based products during the election season, stable domestic prices and anti-smuggling efforts of the current administration … have triggered the increase in domestic consumption,” she said.
