Manila: The Sugar Regulatory Administration (SRA) has released data that indicates the local sugar production in the second week of May remains flat at 1.98 million metric tons (MT).
Compared with the same period during last year the raw sugar production rose 0.93 per cent from 1.96 million MT.
SRA data also showed that demand for raw sugar increased by 13.34 per cent to 1.5 million MT. The total sugarcanes milled also rose 8.94 per cent to 23.3 million MT.
The SRA recently adjusted its sugar production target for the current crop year to 2.1 million MT from its earlier target of 2.19 million MT.
The sugar crop in the country starts every September and ends in August.
The production of refined sugar declined by 6.63% to 650,474 MT and the mill gate price of sugar was increased by 7.53% to P1, 666 per 50-kilo bag.
The SRA has cancelled the 7% export allocation to the US for the current crop year and will be using 100% production for the domestic need.
