PH ships out bulk of sugar quota to US
The Philippines has shipped out 135,508 metric tons of sugar to the United States, representing the initial allocation under its quota program.
According to data from the Sugar Regulatory Administration, the Philippines started shipping the sugar on January 31, 2016 on M/V King Sugar amounting to 24,400 metric tons, followed by another 25,000 metric tons on February 12, 2015 on M/V Union Bienvenido.
In March, the country had three more shipments: 24,500 metric tons on March 3 on M/V Newlead Castellano; 30,608 metric tons on March 4 on M/V BBC Neptune; and 31,000 metric tons on March 12 on M/V BBC Pluto.
The Philippines was allowed to export an additional 12,194 metric tons earlier this month but the industry is not keen on filling it up. To achieve economies of scale, the local industry prefers to ship sugar in 25,000 to 30,000 metric tons as that is the load the ships they charter carry.
The SRA expects raw sugar production this crop year at 1.2 million tons, about half the amount in the previous crop year. Refined sugar production is also expected to drop to 405,627 metric tons from 1.1 million metric tons. (By: Eileen A. Mencias)