Manila: Sugar production in Philippines is likely to be lower for 2023 as per the Sugar Regulatory Administration (SRA) board and the shortfall would be addressed by importation programme, reports Philstar.
Pablo Luis Azcona, SRA board member-planters’ representative said, as per the board, the raw sugar production is likely to be 1.831 million metric tons (MT) in the crop year 2022-23. Earlier the estimates of sugar production were 1.834 million MT.
“Our demand is more than local production. The importation of 440,000 MT sugar would cover this year’s lack of sugar and this will cater to our need till we begin milling next year,” said Azcona.
As per the SRA board, the total raw sugar withdrawal would be 2.03 million MT this year.
We expect the production to be better this year compared to last year, said Azcona.
The price of refined sugar in the retail market is expected to go down to P85 per kilo.
As per the Department of Agriculture (DA), the retail price of refined sugar was P110 per kilo.
