July 17, 2019
The country’s raw sugar production rose to 2.069 million metric tons (MT) as of the third week of June compared to its level a year ago, the Sugar Regulatory Administration (SRA) said.
Based on its latest data, raw sugar supply increased 0.23 percent from last year’s 2.064 million MT. Total output in terms of 50-kilogram bags increased to 41.393 million from 41.299 million a year earlier.
During the period, the demand for raw sugar fell by 17.63 percent to 1.682 million MT from 2.042 million MT in June 2018.
Meanwhile, production of refined sugar totaled 788,671 MT as of the third week of June, down 8.39 percent from 860,893 MT in the same period last year.
In terms of 50-kilogram bags, refined sugar dropped to 15.773 million from 17.217 million a year ago.
Refined sugar demand rose by 6.58 percent to 955,103 MT from 869,151 MT.
Total sugarcanes milled during the period reached 21.720 million MT, down 8.01 percent from 23.611 million MT last year.
Mill gate price fell by 23.25 percent to P1,513 per 50-kilo bag. Retail prices, however, averaged P45 to P50 per kilo in the third week of June.
To augment Philippine sugar production, total sugar imports for the crop year was seen reaching 200,000 MT, which would remain the same in the following year, according to United States Department of Agriculture (USDA). So far, the SRA has authorized the importation of 150,000 MT of raw and refined sugar.
The SRA, however, has reduced the United States’ sugar allocation, as production for the current crop year was projected to decrease to 2.071 million MT from the last year’s 2.083 million MT.
The sugar crop year started in September last year and will end in August.
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