Sucrose in solid form market in the Philippines

Earlier Report Observations

The Philippine sucrose market began the period with regulatory measures aimed at supporting domestic production and controlling substitutes. In 2018, the Sugar Regulatory Administration's Order No. 6 tightened rules for importing high-fructose corn syrup and pure fructose, potentially shielding the local sucrose industry from competition. However, market volume contracted over the next two years, falling to 2 001 thousand tonnes by 2020 amid broader industry challenges highlighted by a competition commission issues paper.

A recovery took hold from 2021, with market volume expanding steadily to reach 2 546 thousand tonnes in 2023. This growth coincided with the rising popularity of muscovado sugar as a healthier alternative, which helped stimulate overall sugar consumption. Tight supply conditions were evident in 2023, as reflected by a 24% retail price increase for refined sugar, while the SRA's Sugar Order No. 1 for the 2023-2024 crop year formalized policies to manage domestic output and imports.

Regulatory focus on artificial sweeteners intensified in 2024. The SRA raised the import clearance fee for high-fructose corn syrup and worked to bring all sugar-based products under its oversight, responding to concerns that substitutes were eroding domestic sucrose demand.

Production sucrose in solid form in the Philippines

In kind, 2017-2020, K t

From 2017 to 2020, the Philippines ranked 17th globally in the production of solid sucrose.

Top producers of sucrose in solid form, 2017-2020

World map of production of sucrose in solid form, 2017-2020

In 2020, the Philippines produced 1 848 K t of solid sucrose, marking a 4.3% increase from the previous year. Production reached its lowest point in 2019 at 1 771 K t, while the peak was recorded in 2018 with 1 923 K t. The most significant drop occurred in 2019, when production fell by 7.9%.

Annual dynamics of production in the Philippines in kind, 2017-2020, K t

Exports sucrose in solid form from the Philippines

Exports in kind, K t

The market exhibited considerable volatility during this period. Import levels varied dramatically, with a 27-fold difference between the high in 2017 and the low in 2019. In 2020, exports of solid sucrose from the Philippines remained at 0.0 K t, but this represented a 59.6% increase compared to 2019. The lowest export value was also recorded in 2019 at 0.0 K t, which saw the largest decline of 94.9%.

Annual dynamics of product's exports from the Philippines in kind, 2017-2020, K t

Between 2017 and 2020, Singapore was the dominant destination for solid sucrose exports from the Philippines, accounting for 75.3% of total export volumes. Other countries each held significantly smaller shares.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from the Philippines in kind, 2017-2020

Exports in value, M $ US

The data shows irregular changes, pointing to a volatile market environment. Import levels fluctuated significantly, with a 6.2-fold variation between the high in 2017 and the low in 2019. In 2020, solid sucrose shipments from the Philippines totaled 0.2 M $ US, reflecting a substantial year-over-year increase of 133.7%. The minimum value was recorded in 2019 at 0.1 M $ US, which experienced the largest decline of 73.9%.

Annual dynamics of product's exports from the Philippines in value, 2017-2020, M $ US

From 2017 to 2020, the primary buyers of solid sucrose from the Philippines in value terms were Singapore (44.2% of exports), Japan (21.3%), and the United States (17.7%). Together, these three countries accounted for 83.3% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from the Philippines in value, 2017-2020

Imports sucrose in solid form to the Philippines

Imports in kind, K t

The market showed signs of volatility over the observed period. Import volumes varied 7.2 times from the low in 2017 to the high in 2018. In 2020, imported solid sucrose volumes in the Philippines totaled 153.4 K t, representing a dramatic 51.4% decline compared to 2019. The maximum value was recorded in 2018 at 408.6 K t, which saw the largest increase of 624.6%.

Annual dynamics of product's imports to the Philippines in kind, 2017-2020, K t

Between 2017 and 2020, Thailand effectively monopolized solid sucrose imports to the Philippines in kind, capturing 90.0% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to the Philippines in kind, 2017-2020

Imports in value, M $ US

There were noticeable fluctuations in market performance during this period. The market peaked in 2018 and hit a trough in 2017, with a 5.1-fold amplitude between these years. In 2020, the value of solid sucrose imports to the Philippines stood at 71.9 M $ US, down by 44.0% compared to 2019. The maximum value was recorded in 2018 at 171.2 M $ US, which experienced the largest increase of 412.6%.

Annual dynamics of product's imports to the Philippines in value, 2017-2020, M $ US

From 2017 to 2020, Thailand played a leading role in solid sucrose imports to the Philippines in value terms, holding an 88.8% share of total flows, with the remainder distributed among other partners.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to the Philippines in value, 2017-2020