Sugar federations demand inclusive plan for importation amid potential shortage
BACOLOD City – Amid potential sugar shortages due to El Niño, leading sugar federations urge a strategic and transparent importation plan. Following the Sugar Regulatory Administration’s (SRA) suggestion, the Sugar Council, including CONFED, NFSP, and PANAYFED, emphasizes thorough market analysis before the new milling season. They warn that premature importation could harm local sugar prices. The Council suggests importation as a last-resort measure, ensuring full consultation with stakeholders to avoid overlapping with the milling season.
BACOLOD City – In light of potential sugar shortages due to the El Niño phenomenon, leading sugar federations have advocated for a strategic and transparent importation plan if such measures become necessary.
Their call followed the Sugar Regulatory Administration’s (SRA) recent suggestion that importation might be needed to mitigate shortages.
The Sugar Council, representing major national producers including the Confederation of Sugar Producers’ Associations, Inc. (CONFED), the National Federation of Sugarcane Planters (NFSP), and the Panay Federation of Sugarcane Farmers (PANAYFED), stressed the importance of government intervention and collaboration to address critical industry issues promptly.
In their communication to Agriculture Secretary Francisco Tiu Laurel, Jr., the council insisted that any decision on importation should be preceded by a thorough analysis of market conditions by the SRA, in consultation with industry stakeholders, before the onset of the new milling season.
The Council also noted that current reserves might suffice until the first quarter of 2025 unless consumption rates increase unexpectedly.
“As conservative projections go, this may of course change, needing importation sooner. And if that is the opinion of the SRA, then the Sugar Council would be interested in looking at SRA’s projections,” the Council said.
The federations warned that premature importation could undermine local sugar prices at the millgate, particularly as local production is expected to decrease in the 2024-2025 calendar year, potentially exacerbating the challenges for sugar farmers.
The Council emphasized that while importing sugar could stabilize retail prices amid low local production, it should be considered a last-resort strategy, implemented in full consultation with all stakeholders and adjusted to avoid overlapping with the milling season./PN
Source Link : https://www.panaynews.net/sugar-federations-demand-inclusive-plan-for-importation-amid-potential-shortage/
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