South Korea has bought 6,000 tonnes raw sugar from the Philippines, the latest export deal of the Southeast Asian country as it struggles to find buyers for its excess supply of the sweetener, officials said on Tuesday. Only three buyers have so far emerged for Philippine sugar, including Japan and Indonesia, with committed volume now around 66,000 tonnes for October to December shipment, officials of the Sugar Regulatory Administration said.
The total shipment is just a third of the 200,000 tonnes volume the Philippines could sell this year to countries other than the United States.