Sweet Deal Philippines Gains Larger Sugar Export Quota to the US

The United States has granted the Philippines an increased sugar export quota for the fiscal year 2024, signaling a positive development in trade relations. The US Trade Representative (USTR) announced an additional allocation of 25,300 metric tons raw value (MTRV) for the Philippines, raising the total to 145,235 MTRV. This increment is part of a broader move by the US, which has allocated an extra 125,000 MTRV to various sugar-exporting countries, with Brazil receiving the largest share.

This decision reflects a strategic adjustment by the US to augment the sugar supply from countries that are net importers, contingent on the verification of the product’s origin. The USTR stipulates that imports must be accompanied by certificates of quota eligibility, ensuring compliance with trade agreements.

The increased quota for the Philippines represents a significant opportunity for the country’s sugar industry, potentially boosting its economic performance and strengthening bilateral trade ties with the United States.