SRA administrator and CEO Pablo Luis Azcona made this disclosure after President Marcos endorsed the recommendation of the Private Sector Advisory Council-Agriculture Sector Group last week to allow the importation of sugar during the off-harvest and post-milling seasons.
Azcona said the import proposal being endorsed by the President is aimed at ensuring that the country would not have a shortfall in supply, particularly for refined sugar, once all sugar mills stop operating. Sugar refineries depend on the country’s raw sugar supply to produce refined sugar. The SRA has devised a mechanism that will allow it to determine if there is already a need to allow sugar imports in the country, Azcona said.
Azcona was referring to the sugar crisis two years ago wherein retail sugar prices, both for raw and refined, skyrocketed to historic highs as the country suffered a shortage in supply caused by delayed import programs and anemic domestic production. The country’s combined raw and refined sugar supply as of May 5 stood at 1.15 million MT, about 35 percent higher than the 851,370 MT recorded in the same period last year, based on latest SRA data.
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