Manila: The Philippines received a quota increase for raw sugar exports to the United States in fiscal year 2024, despite not fully utilizing its allocation in recent years, reported Business.inquirer.
According to a statement released on the website of the US Office of the US Trade Representative (USTR), an additional 25,300 metric tons of raw value (MTRV) of sugar has been allocated for the Philippines for fiscal year 2024. This is in addition to the 145,235 MTRV already earmarked for the Philippines this year, as announced by the USTR in July of the previous year.
This latest allocation is part of the additional quantity of 125,000 MTRV set aside by the US for sugar-exporting countries worldwide. Brazil secured the largest allocation with 27,174 MTRV, while Australia came third with 15,555 MTRV.
The USTR noted that the United States increased export quantities for countries that are net importers of sugar, subject to verifications of origin.
