Local production of sugar in the country has dramatically increased by 30.86 percent in the first week of December compared to the same period in the previous year, the Sugar Regulatory Administration said.
In the latest supply and demand situation report of SRA, from September 1 to December 6, the total production of raw sugar was 407,770 metric tons, or 8.155 million 50-kilo bags, compared to the same period in the previous year with 311,617 MT, or 6.232 million 50-kg bags.
The demand for raw sugar has also increased by 18.62 percent, from 343,597 MT to 407,569 MT during the period, SRA said.
However, the production of refined sugar fell by 33.76 percent at 73,293 MT from 110,654 MT in the previous year, SRA said.
The production of molasses, meanwhile, increased by 32.06 percent, from 149,828 MT to 197,856 MT.
The SRA report also showed that the total sugarcane milled during the period also increased by 38.40 percent, from 3.712 million MT to 5.138 million MT.
The sugar millgate price slightly decreased, from P1,514.70 per 50-kg bag to P1,510.32 per 50-kg bag, while the prevailing retail price of raw sugar in the market remained at P45 per kilo.
The sugar crop year starts every September and ends in August the following year.*