The Philippines is seeking new markets for sugar and bananas to boost agro-based exports, the National Economic and Development Authority (Neda) said.
“In addition to South Korea and India, Indonesia and the Middle East were also identified as potential markets for Philippine sugar,” Neda Deputy Director General Emmanuel F. Esguerra said in a statement.
Philippine International Trading Corp. (PITC) and the Sugar Regulatory Administration identified the new markets. PITC is coordinating with the buyers in these countries on their specific requirements, the Neda said.
The United States, Russia, China, Korea, Indonesia, Malaysia and India are among the major importers of raw cane sugar, according to Food and Agriculture Organization (FAO) statistics.