Buyers emptied shelves in shops and queued at petrol stations in Tacloban and towns on Leyte island where Super Typhoon Haiyan struck with winds in excess of 300 km/h on November 8 last year, killing 6300 people, leaving 1000 missing and displacing 4.1 million others.

Japan's meteorological agency predicts the new storm called Hagupit – the Tagalog word for lash – could pack winds of up to 212 km/h when it makes landfall this weekend.

Experts say a storm of this magnitude would bring sea surges up to four metres and wreak havoc in the same areas that were devastated by Haiyan where thousands of people are still living in makeshift accommodation.

"There's a 75 per cent chance that this typhoon will make landfall," said Landrico Dalida Jr from the Philippine Atmospheric Geophysical Astronomical Services Administration.

"This is a strong storm but not as strong as Haiyan."

Authorities have begun evacuating thousands of people who had moved back to coastal communities that were wiped out by Haiyan only 13 months ago.

Schools have been suspended and a ministerial meeting of the Asia-Pacific Economic Forum moved from the area to Manila.

Tacloban's vice mayor Jerry Yaokasin said it was understandable that people were stocking up on supplies.

"We cannot over-prepare for this. People here are more cautious because of the trauma of last year," he said.