The Sugar Regulatory Administration (SRA) on Thursday, July 6, issued an order authorizing the importation of an additional 150,000 metric tons (MT) of sugar “in anticipation of a possible shortfall of supply and to bridge the gap between supply and demand”.
Sugar Order No. 7 is the second import program for 2023 “to ensure sufficient actual supply of sugar for domestic consumption, as well as a two month buffer stock”.
“The further reduction of sugar production volume for Crop Year 2022-2023 is forecasted due to early start and early end of milling” and unfavorable weather conditions, the order said
The Sugar Import Program will be open to duly registered SRA international sugar traders in good standing.
Eligible importers are mandated to ensure that their allocated volumes arrive in the country no later than Sept. 15, 2023, the order said.
“Any imported volume of refined sugar that arrives under this sugar order shall be classified as ‘C’ (Reserve) subject to future disposition or reclassification, as SRA deems necessary,” the order added.
Sugar Order No. 7 was approved by President Ferdinand Marcos Jr., who is concurrent secretary of agriculture.*