PH to import 300,000 MT of sugar
Agriculture Secretary Emmanuel Piñol said that in an unprecedented move, the country’s sugar planters have volunteered to sell refined sugar at P48 per kilo and allow government to import up to 300,000 metric tons (MT) of sugar to bring down prices in the market.
“We would like to show to President Duterte that we support his efforts to bring down prices of goods in the market,” the sugar planters, as cited by Piñol, said.
“The sugar planters, however, said the importation should only be for the consumer market,” he added.
To address the rising prices of the commodity in the market, the Sugar Regulatory Administration (SRA) board approved in June the importation of 100,000 MT of refined sugar for the use of bottlers and processors, 50,000 MT of refined sugar for confectionery makers and 50,000 MT of brown sugar.
This was the first time in two years that SRA allowed the importation of sugar.