The Philippines is set to receive an additional 25,300 metric tons of raw sugar from the United States, which will be eligible to enter at the lower duty rate under the World Trade Organization's tariff-rate quota (TRQ) for fiscal year 2024.

The Office of the US Trade Representative recently reported that the US Department of Agriculture declared that it would be allocating an additional 125,000 metric tons raw value (MTRV) as an extra to the previously committed 1,117,195 MTRV.

For the Philippines, the USTR announced an additional 25,300 MTRV for FY 2024.

Meanwhile, Brazil had the biggest raw sugar TRQ increase allocation with 27,174 MTRV.

Australia comes next to the Philippines with a 15,555 MTRV top-up.

“The allocation of increased quantities of the raw cane sugar WTO TRQ to countries that are net importers of sugar are conditioned on receipt of the appropriate verifications of origin,” USTR said. “Certificates of quota eligibility must accompany imports from any country for which an allocation has been provided.”

President Ferdinand Marcos Jr. said in January that the government would maintain a two-month buffer stock of sugar to ensure the public has sufficient inventory of the commodity.

In the same month, the Sugar Regulatory Administration assured that, in case a drop in production caused by El Nino happens, the country has enough sugar buffer stock with a volume of 200,000 MT.

Based on the Department of Agriculture's latest monitoring, refined sugar is currently sold at P75 to 95 per kilo, washed sugar between P68 and 86 per kilo, and brown sugar from P59 to 90 per kilo.