The Sugar Council has praised the Sugar Regulatory Administrator (SRA) Pablo Luis Azcona for implementing a program aimed at stabilizing sugar prices during the peak harvest season and for engaging in consultations with industry stakeholders.
The Sugar Council has commended Sugar Regulatory Administrator (SRA) Pablo Luis Azcona for implementing a program designed to support sugar farmers and for engaging with industry stakeholders before finalizing the sugar order for the initiative. The council, comprising CONFED, NFSP, and PANAYFED, expressed its appreciation for Azcona's efforts in creating a program that aims to shield farmers from volatile price fluctuations during the peak harvest season.
They particularly lauded his commitment to consulting with all relevant parties and his assurance that there will be no sugar importation until May or June, when the harvest cycle concludes. The council highlighted a key consultation initiated by Azcona on January 21 at the SRA Bacolod Office. This discussion focused on the draft sugar order titled “Voluntary Purchase of Crop Year 2024-2025 Locally Produced Sugar for Reclassification to Reserve Sugar to Avail of Allocation for Future Import Program.” A central element of this program involves the SRA purchasing a maximum of 300,000 metric tons of locally produced sugar from planters, associations, and cooperatives registered with the SRA. This purchase will be conducted on a first-come, first-served basis and will be exchanged for allocation rights for future sugar importation. The purchased sugar will be classified as “C” or “reserve” sugar for a duration of up to 90 days. The overarching goal of this initiative is to reduce the supply of available sugar during the peak harvest months, thereby contributing to the stabilization of millgate prices. The Sugar Council expressed its optimism regarding Azcona's program and the consultation process, emphasizing its positive impact on the sugar industry. They anticipate a more prosperous future for sugar farmers and a more fruitful partnership with Azcona in the years to come
Sugar Industry Sugar Prices Sugar Farmers SRA Administrator Sugar Order
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