Philippines: Department of Agriculture plans to import 200,000 tonnes refined sugar in September
The Department of Agriculture (DA) plans to import 200,000 metric tons of refined sugar in September to stabilize supply and curb retail price hikes, according to Agriculture Secretary Francisco Tiu Laurel Jr. This decision aims to bridge the gap before the October milling season amid anticipated stock drops by August. Supported by the United Sugar Producers Federation and prompted by El Niño delays, the DA will finalize the order in July to prevent shortages and price surges.
The Department of Agriculture (DA) is planning to import a minimum of 200,000 metric tonens (MT) of refined sugar in September to ensure a stable supply and prevent price increases in the retail market.
During a dinner discussion with members of the media on Wednesday, Agriculture Secretary Francisco Tiu Laurel Jr. mentioned that the objective of the planned import is to bridge the gap before the milling season begins in October.
“By September, we should have an arrival of at least 200,000 MT of refined sugar to cover the gap before harvest and refining,” he stated.
Laurel indicated that the DA will finalize its sugar order in the second week of July due to the anticipated drop in current sugar stocks by August.
The agriculture secretary assured that the decision was made after consultations with stakeholders.
The DA’s proposal received support from Manuel Lamata, President of the United Sugar Producers Federation (UNIFED).
“This will address the shortage before the harvest season starts in September. The harvest for the upcoming crop year will be delayed due to El Niño, and upon consultation, we approved the proposal,” Lamata stated in a statement.
Earlier, the Sugar Regulatory Administration (SRA) assured that it would closely monitor the country’s buffer stock and market demand trends to avoid a situation similar to August 2022, when refined sugar stocks plummeted to 27,000 MT and retail prices soared to PHP120 per kilogram.
Source Link : https://www.chinimandi.com/philippines-department-of-agriculture-to-import-200000-tonnes-refined-sugar-in-september/
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