MANILA is planning to ship out no less than 100,000 metric tons (MT) of sugar to the world market before the end of the current sugar crop year on Aug. 31, the Sugar Regulatory Administration (SRA) said on Thursday.

“We’re looking at that volume at the moment. Anyway, there is no deadline for exporting sugar to the world market,” said SRA administrator Ma. Regina B. Martin in an interview.

The Philippine Sugar Board met yesterday to discuss the guidelines for the proposed export of sugar to countries other than the United States.

The volume planned for shipment to the international market particularly in countries in Asia is on top of the 202,160 MT allocated by the US under its tariff rate quota (TRQ) scheme.

Earlier, Manila has requested Washington to increase its allocation to the Philippines under the TRQ scheme. The SRA, however, said the Philippines will have to wait until August to determine whether it could ship out additional sugar to the US.

“No additional for now. [Washington] replied to my query [and said] they will inform us if other countries will not deliver by July or August,” said Martin said in a text message earlier.

The US is a preferred market for Philippine sugar producers because the commodity is bought at a premium price by American end-users.

For the crop year ending Aug. 31, the country’s output is expected to reach 2.033 million metric tons (MMT), 70,000 MT higher than the previous forecast of 1.965 MMT.

The Philippines is looking to unload its excess sugar to the world market to “further reduce the stock balance in the country considering the higher-than-expected production,” said the SRA in a previous statement.

A glut in the domestic supply of sugar will depress prices and discourage farmers from planting.