Importation of 200,000 MT of sugar fully taken up
Sugar Regulatory Administration (SRA) said there is no more room for other interested traders who may want to participate in the importation of 200,000 metric tons (MT) of sugar.
This, as all 200,000 MT of sugar allowed to be imported had already been fully allocated to different importers.
Because of this, SRA Board Member Roland Beltran said the agency now expects that market forces will correct itself as soon as the imported sugar starts arriving and bring the much needed stability in sugar prices.
According to him, the “Sugar Board already gave the approval via referendum import clearance for the 2,000 MT of bottler’s grade refined sugar that is due to arrive this week and a week thereafter”, a report in Manila Bulletin showed.
Bottlers’ grade refined sugar are meant for industrial use, mainly by beverage companies like Coca-Cola FEMSA Philippines (Coke).
This will be imported by these companies through an international trader, the report further noted.