Tridge summary
The Philippines is projected to see a significant decrease in raw sugar production in the upcoming crop year, with an estimated decline of seven percent to 1.782 million metric tons, marking the lowest output in 25 years. This reduction is attributed to the impacts of El Niño, which have led to hotter and drier weather conditions, affecting sugarcane growth. As a result, the Sugar Regulatory Administration (SRA) is considering an all-‘B’ allocation for the sugar produced, meaning it will be reserved for domestic consumption. In anticipation of this shortfall, the SRA is also permitting the importation of 240,000 metric tons of refined sugar to make up for the deficit. Despite the expected drop in domestic production, industry sources predict that retail sugar prices will remain stable due to carry-over stocks and the expected arrival of imported refined sugar.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The country’s raw sugar production could fall below 1.8 million metric tons (MT) in the new crop year, the lowest level in 25 years, after farms reeled from the effects of El Niño, resulting in stunted growth of sugarcanes. The Sugar Regulatory Administration (SRA) estimates that raw sugar output in the current crop year 2024-2025 could decline by at least seven percent to 1.782 million MT from the previous crop year’s 1.922 million MT. The projected raw sugar production in the current crop year, which began last Sept. 1, could be the lowest output level in more than two decades or since the 1.619 million MT recorded in crop year 1999-2000. SRA administrator and CEO Pablo Luis Azcona confirmed the latest crop output estimates to The STAR yesterday, noting that the sole reason behind the foreseen production is the dryer and hotter weather conditions brought about by the El Niño phenomenon. The extreme weather condition forced sugarcane planters to cut their crops and replant to ...
Source: UkrAgroConsult
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