THE Sugar Regulatory Administration (SRA) said the country’s importation of nearly half a million metric tons (MT) of refined sugar will not affect the prices of sugar in the coming months.
SRA administrator Pablo Azcona said the importation of 424,000 MT, which should arrive in the country starting July 15, will also not affect farmers.
“’Yung pricing natin has been stable on the retail market. ‘Yung refined sugar natin ay nag-stay sa P85 for the last three years already…. And we are actually seeking to keep it there, just keep it stable,” he said in Bagong Pilipinas Ngayon on July 11.
“In the last year, bumaba din ‘yung price ng brown sugar at washed sugar sa retail… So parang ‘yung situation sa ngayon, very good for the farmer, tumaas ‘yung farmgate at millgate price niya. Very good din for the consumer, bumaba ‘yung retail price ng brown at ng washed, at stable si refined,” Azcona added.
SRA earlier allowed the importation “to ensure that the country [would] continue to have sufficient actual supply of sugar for domestic consumption and buffer stock.”
The sugar regulatory agency added that the country currently has a stock of 310,000 MT of refined sugar which could last until October. Hence, the entry of the 424,000 MT of refined sugar should be by November 30.
“‘Yung current stock kasi natin ng refined sugar ay nasa 310,000 metric tons po at off milling na po tayo ngayon. So ‘yung 310,000 metric tons ay this is good for about almost four months po, and that will be around October at wala pa rin po tayong local refining by that time. So ‘yung pag-angkat natin, half of it will be used, kailangan natin, and then 170,000 gagamitin as two-month buffer po,” said Azcona.
The importers who will be allowed to bring in the required refined sugar volume are licensed international sugar traders in “good standing,” those who have joined the government’s past sugar importation calls, and those who participated in the export of raw sugar to the US to fulfill the Philippines’ tariff rate quota, according to SRA. (GMA Integrated News)
