PH gov’t won’t import additional sugar
Despite falling sugar harvest, country will not import additional sugar, insisted by Sugar Regulatory Administration (SRA).
“There is no shortage of sugar. SRA data show that we will be able to reach our target production with enough buffer stock at the end of the milling season,” said SRA Administrator Hermenegildo Serafica.
During its most recent Sugar Board meeting, which was attended by DA Undersecretary Segfredo Serrano, Board Members Atty Roland Beltran and Atty Bernardino Yulo, the board came to a consensus that there is no need to import sugar for domestic consumption.
“During the presentation of the Regulation department, figures clearly showed that there will be no shortage,” said Board Member Yulo.
“There is no basis for speculations being floated around regarding alleged importation plans,” said Board member Beltran.
Based on the latest data released by SRA, local raw-sugar production from September 1, 2017 to March 25 stood at 1.5 million MT, 11.18 percent lower than the 1.69 million MT booked in the same period last year.
Also, output in 50-kilogram bags totaled 40.1 million MT from 42.1 million MT.
This, while the total demand for raw sugar during the period grew by 10.85 percent from 1.15 million MT to 1.28 million MT.