US leaves 2019 PHL sugar quota unchanged

19.07.2018

THE United States has left unchanged its 2019 quota for Philippine raw cane sugar imports at 142,160 metric tons, the United States Trade Representative (USTR) said.

In a statement on its website, the USTR said the quota was 142,160 metric tons raw value (MTRV) under the tariff-rate quota (TRQ) scheme for the Philippines, which is based on the country’s shipments to the US in the past.

Under its commitment to the World Trade Organization, the US has committed to import 1.12 million MTRV at minimum.

The TRQ system allows beneficiaries to export a certain amount of sugar at a lower tariff. The leading beneficiary is the Dominican Republic with 185,335 MTRV.

The USTR said that imported sugar may enter the US by Oct. 1, the beginning of the fiscal year for sugar.

Sugar Regulatory Administration (SRA) Administrator Hermenegildo R. Serafica in a text message to BusinessWorld said that the agency will confirm soon whether the Philippines can fill the quota.

“By next week we will know more as SRA will have the [class] A Quedans intended for the US quota verified,” he added.

In May Mr. Serafica said domestic production can satisfy both local demand and the US quota.

Domestic sugar production is expected to drop to 2.27 million metric tons (MT) in the current crop year from the last estimate of 2.38 million MT due to unfavorable weather conditions.

According to SRA’s latest data as of July 17, the Philippines has so far shipped some 57,000 metric tons commercial weight (MTCW) to the US.


bworldonline

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