Browse Data and Analysis

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.

Fueled by Filipinos' fondness for food indulgences, rising disposable incomes, and increasing urbanization, the $1.2 billion confectionery and ice cream market is expected to see robust growth of eight percent annually through 2028.

After surging in MY2018/19, Philippine grain imports (wheat, corn and rice) will decline in MY2019/20 as the country returns to more normal weather conditions following last year’s El Niño....

Total raw sugar production in MY 2019/20 (December/November) will reach 2.1 million metric tons (MMT), unchanged from the previous year, with cane production expected to be about 22 MMT.