SRA allows conversion of remaining world market sugar to domestic use
The Sugar Regulatory Administration (SRA) has allowed the conversion of remaining “D” sugar, or those allotted for world market, to domestic use in order to stabilize the rising prices of local sugar.
In the Sugar Order No. 9, SRA ordered the reclassification of D Sugar or World Market Sugar for this current crop year into B or Domestic Sugar, as requested by some national and local planters and millers.
“It is the national interest to institute measures that will bring about stabilized prices of B Domestic Sugar which are reasonabbly profitable to producers and fair to consumers,” SRA said.
“Following the directive of the President to prioritize the needs of the domestic market, the Agriculture Secretary directed SRA to manage the domestic sugar supply to ensure ample and stable supply of sugar for the domestic market particularly during off-milling and early months of the incoming milling season,” it added.
A few months ago, SRA already issued a similar order for the same reason. For this crop year, the country will no longer ship sugar to other countries, except the United States, to close the gap in local demand.