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.
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
