The Philippines says there is no need for additional sugar importation soon. “Importation of sugar is always an option especially when the supply is low, but as of now, there is no need for it,” said Sugar Regulatory Administration (SRA) chief Hermenegildo Serafica.
Recently, in August to avoid possible sugar price hike in the Philippines, the SRA had allowed the importation of 250,000 metric tonnes of refined sugar to fulfil the deficit in domestic production to meet the rising demand. The importation program was open to all industrial users, including food, confectionaries, biscuits, beverage manufacturers, consumers and end-users such as retailers, traders, repackers and sugar mills. 100,000 MT was allocated for industrial users, while the rest 150,000 MT was for consumers, and sugar producers.
According to Serafica, this imported sugar will be coming in until October 31, and this will be good until next year.
Contrary to the SRA statement, Department of Finance feels for improvement in the local sugar industry and emphasizing on allowing the entry of more cheaper sugar to introduce competition.
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