The Sugar Regulatory Administration issued Sugar Order No. 2 on Friday, March 8, for the voluntary purchase of Crop Year 2023-2024 locally produced raw sugar to be reclassified as “C” or reserve sugar in order to avail of an allocation for a future import program.
The intention of the Voluntary Limited Volume Purchase is to help secure and stabilize the farmgate prices of locally produced sugar while at the same time ensuring fair and reasonable retail prices, the order states.
It is open to, among others, farmers, farmer’s groups, cooperatives and associations, sugar
millers, manufacturers, beverage makers, who are licensed SRA Domestic or International Sugar Traders, it said.
The 300,000 MT of locally produced raw sugar covered under the order shall be proportioned as follows:
*A maximum of 60,000 MT, for sugar covered by quedans whose dates of issue are on or before the week ending January 28, 2024, and
*A minimum of 240,000 MT, for sugar covered by quedans whose dates of issue are on or after the week ending February 3, 2024.
Participation in No. 2 Sugar Order by an eligible participant shall be on a first come first served basis.
The order was approved by Agriculture Secretary Frasncisco Tiu Laurel Jr. and signed by Administrator Pablo Luis Azcona of the Sugar Regulatory Administration and Sugar Board Members Mitzi Mangwag and David Andrew Sanson.*