THE SUGAR Regulatory Administration (SRA) board wants all sugar output in the coming crop year to be allocated for domestic use, amid elevated prices of sugar due to a supply shortage. READ
“We were directed to immediately come up with Sugar Order No. 1 regarding sugar allocation, of which the sugar board recommended that all sugar for this crop year will be classified as ‘B’ sugar or domestic sugar,” acting SRA Administrator David John Thaddeus P. Alba said in a statement on Tuesday.Mr. Alba also said none of the raw sugar production will be classified as “A,” which is designated for the United States.
“We also came up with Sugar Order No. 2 which recommends the importation of 150,000 metric tons of refined sugar. While in principle this has been approved, we still need to draw up the mechanics covering this order after consultations as well,” Mr. Alba said. As of Aug. 12, the average price of refined sugar in wet markets rose by 82.9% to P96.93 from P53.00 from the year before. The prices of raw sugar climbed by 59.3% to P72.14 from P45.29 in 2021.
Beverage manufacturers, including Coca-Cola Beverages Philippines, Inc., Pepsi-Cola Products Philippines, Inc., and ARC Refreshments Corp. earlier announced that they are facing a shortage of premium refined sugar.
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