Marcos OKs sugar importation of up to 150K MT

Sugar being sold in the market in this undated photo. (Screenshot of Ulat Bayan video/PTV)/ FILE

By Alec Go

President Ferdinand R. Marcos Jr. gave the green light on Monday, May 15, for the additional importation of sugar with a maximum volume of 150,000 metric tons (MT) to meet consumer demand, Malacañang said.

This followed the President’s meeting with the Sugar Regulatory Administration (SRA) which recommended the importation to stabilize prices and supply.

“We agreed to additional importation of sugar to stabilize the prices. Maximum amount will be 150,000 MT but probably less,” Marcos said.

“The exact amount will be determined once we have determined the exact amount of supply, which will come at the end of this month,” he added.

President Ferdinand R. Marcos Jr. meets with the Sugar Regulatory Administration officials in Malacañang Palace, May 15, 2023. (Photo courtesy of PCO)

The SRA said the importation of 100,000 to 150,000 MT will augment the country’s inventory which may have a negative ending of 552,835 MT by the end of August.

The sugar demand is estimated at 3.1 million MT. The SRA said this won’t be fully covered by the expected local production of 2.4 million MT and the 440,000 MT allowed to be imported under SO No. 6, s. 2022-2023.

As of May 7, the country has sufficient raw sugar supply with a beginning stock of 160,000MT. – gb

Popular

PBBM ‘rings’ CMEPA into effectivity

By Dean Aubrey Caratiquet Investments serve as the lifeblood of a successful and progressive nation, paving the way for an economy that adopts to the...

‘Best is yet to come’: PBBM rallies Alex Eala after WTA finals debut

By Darryl John Esguerra | Philippine News Agency On Sunday, June 29, President Ferdinand R. Marcos Jr. offered words of encouragement to tennis sensation Alex...

DOH opens online mental health support for Filipinos in Israel

By Joyce Ann L. Rocamora | Philippine News Agency The Department of Health (DOH) is extending psychosocial support to overseas Filipinos in Israel affected by...

PBBM reminds AETC to ensure quality training for future airmen

By Brian Campued President Ferdinand R. Marcos Jr. ordered the Air Education and Training Command (AETC) of the Philippine Air Force (PAF) to ensure that...