(PNA file photo)
MANILA – The Sugar Regulatory Administration (SRA) is planning to resume the exportation of raw sugar to the United States next month, according to administrator and CEO Pablo Luis Azcona.
“Sugar exports need to arrive (in the US) by September… they should start shipping out by August,” Azcona said during a briefing on Thursday.
Azcona said this July, the agency issued two draft sugar orders to the industry for comment.
“Yung US ay nagbigay sa atin ng US quota this year of almost 25,000 metric tons, raw sugar yan. Yung US market is a premium market for raw sugar, mataas yung buying price ng US , so yung exporters natin nanghingi kung pwede silang mag export (The US gave us a US quota this year of almost 25,000 metric tons, that's raw sugar. The US market is a premium market for raw sugar, the US buying price is high, so our exporters asked if they could export,” Azcona said.
The Philippines last exported raw sugar to the US in 2021 following a shortage.
Azcona clarified that the country only exports raw sugar when there is overproduction.
As of May 12, raw sugar production was at 1.92 million metric tons (MMT). It exceeded the 1.799 MMT recorded the previous year.
“Usually yung export to the US is being used to stabilize our local prices at a time when we have overproduction which is usually January, February, March, peak of milling (Usually the export to the US is being used to stabilize our local prices at a time when we have overproduction which is usually January, February, March, the peak of milling,” he said.
Meanwhile, the SRA and Agriculture Secretary Francisco Tiu-Laurel Jr. would discuss the plan to import refined sugar.
Laurel earlier said that the country need to import at least 200,000 metric tons of refined sugar in September to ensure a stable supply and prevent price hikes in the retail market.
He said the target import intends to cover the gap before the milling season in October.
As of June 9, the country has around 436,229 MT of physical sugar stock and 380,835.70 MT of refined sugar stock. (PNA)
