There is a need to import 350,000 metric tons (MT) of sugar as there is a shortfall in domestic production as per the draft order of the Sugar Regulatory Administration (SRA), reports local media.
As per the statement issued by administrator Hermenegildo R Serafica, “The demand for sugar is increasing in the domestic market due to the opening of the economy and to meet the demand we have to import sugar as the local output has been lowered.”
As per the SRA’s Sugar Order No. 4, the country plans to import 250,000 MT of refined sugar including 1, 50,000 MT of premium grade and 100,000 MT of raw sugar.
“The natural calamities and disruption in planting schedules are the reasons for lower sugar output that has led to an increase in the sugar prices,” said Serafica.
“The farmers are rushing to mills with a premature cane for crushing to get benefits of the increase in sugar rates but this is leading to less tonnage and lower sugar content. This has led to the lowering of sugar output this year compared to last crop year,” he concluded.
