Thailand Finalizes Major Sugar Export Deal with the Philippines Worth Over THB 1 Billion
Thailand has successfully secured a significant sugar export deal with the Philippines, with a total trade value exceeding THB 1.1 billion. The initiative is part of the country’s strategic efforts to expand new markets and strengthen Thai exporters’ competitiveness in the global sugar industry.
Ms. Sasikarn Wattanachan, Deputy Spokesperson for the Office of the Prime Minister, revealed that the Department of International Trade Promotion (DITP), Ministry of Commerce, recently organized a business matching event between Thai sugar and processed sugar exporters and Philippine importers.
The event featured five Thai exporters and eight importers from the Philippines, resulting in 32 successful business matches and total trade value of USD 33 million (approximately THB 1,127.61 million).
The five participating Thai exporters were:
- Mark And Friend Company Limited
- Ponpoonsin Co., Ltd.
- Asia United Foods Industrial Co., Ltd.
- Thai Syrup Industry Co., Ltd.
- SMC FOOD (THAILAND) CO., LTD.
This activity was a collaborative effort between the DITP, the Department of Foreign Trade, and the Thai Processed Sugar Industry Association. It aimed to address challenges currently faced by Thai sugar exporters, while also creating new opportunities for market expansion and business networking in the Philippine market.
In addition, the Thai delegation held discussions with executives and the CEO of the Philippine Sugar Regulatory Administration (SRA), the regulatory body overseeing the sugar and related industries. Talks focused on import regulations and requirements for processed sugar, syrups, and pre-mixed sugar products, helping Thai exporters better understand trade procedures and compliance requirements in the Philippine market.
Ms. Wattanachan emphasized the Thai government’s ongoing commitment to strengthening the country’s economic potential and promoting sustainable growth. “We are dedicated to driving trade, investment, and systematic global market expansion to ensure long-term economic stability and competitiveness,” she stated.
As of 2024, Thailand’s exports of other types of sugar (excluding cane and beet sugar) to the Philippine market reached USD 14.23 million (approximately THB 486.24 million), marking a 48.99% increase year-on-year. This growth highlights the strong potential of Thai sugar products in international markets.
For more information on export opportunities, interested businesses are encouraged to contact the Department of International Trade Promotion via www.ditp.go.th or the DITP Hotline at 1169.
