Browse Data and Analysis

FAS Manila forecasts raw sugar production at 1.85 million metric tons (MT) for marketing year (MY) 2025, higher than the Sugar Regulatory Administration’s (SRA) forecast of 1.78 million MT, due to an expansion in area planted and improvements in weather conditions from the previous El Niño, which is expected to provide better production in MY 2025.

FAS Manila forecasts 2025 chicken meat imports to grow slightly, reaching 480,000 MT as demand continues to outpace domestic supply. Chicken meat production in 2025 is expected to increase at 1.63 MMT ready-to-cook (RTC), up by about 4 percent year-on-year.

With the Philippines as one of the fastest-growing economies in Southeast Asia, Post sees the retail sector growing five percent as modern retail stores continue to expand.

FAS Manila forecasts Marketing Year (MY) 2024/25 rice imports to reach 4.60 million metric tons (MT), given the implementation of Executive Order No. 62, 2024 that reduced rice tariff rates from 35 to 15 percent.

On August 20, 2024, the Philippines notified the World Trade Organization (WTO) of GBT/TBT/N/PHL/336 on the Guidelines on the Adoption of Codex Guidelines for Ready-To-Use Therapeutic Foods (RUTF) (CXC 95-2022) as Technical Regulation.

The Philippines recently notified regulations on follow-up formula or milk supplements and products for young children to the World Trade Organization.

FAS Manila forecasts 2025 beef/carabeef and pork imports at 226,000 and 510,000 metric tons carcass weight equivalent, respectively. Strong economic growth, moderating inflation, and forecast population increases support higher meat imports in 2025.

The Philippines issued Sugar Order No. 5 (SO5) announcing the importation of 240,000 metric tons (MT) of refined sugar, the first sugar import program for marketing year (MY) 2024-2025 which starts in September 2024 and ends in August 2025.

The Philippines is set to resume raw sugar exports to the United States under its sugar quota in August 2024. The Sugar Regulatory Administration (SRA) issued Sugar Order (SO) No. 3 on July 26, approving the export of 25,300 metric tons raw value (MTRV) of raw sugar in fulfillment of the United States tariff rate quota (TRQ) allocation for fiscal year 2024.

Despite record production and ample stocks, the Philippines is forecast to import a record volume of rice. Large imports are spurred in part by high domestic prices and the recent government decision to reduce tariffs from 35 to 15 percent.

Fueled by a rebound in hospitality and food service, the Philippine economy outperformed Singapore, Thailand, Malaysia, and Indonesia in 2023 despite inflationary pressure. Total U.S. agricultural and related exports to the Philippines reached $3.6 billion in 2023 with U.S. consumer-oriented and intermediate agricultural exports ranking the highest in Southeast Asia.

On June 20, 2024, President Ferdinand Marcos Jr. issued Executive Order No. 62 (EO 62) modifying the import duty rates of various commodities. EO 62 provides a multi-year comprehensive tariff schedule and applies to commodities subject to the Most Favored Nation (MFN) rates.