August 03, 2019
The country’s raw sugar production slightly fell to 2.232 million metric tons (MT) in the first week of July from its level a year ago, the Sugar Regulatory Administration (SRA) said.
In its latest supply-and-demand situation report, SRA said the figure was 0.27 percent lower from last year’s 2.078 million MT.
Total raw sugar output in terms of 50-kilogram bags reached 41.447 million from 41.560 million a year earlier.
As of July 7, demand for raw sugar also fell by 18.11 percent to 1.776 million MT compared to last year’s 2.169 million MT.
Meanwhile, production of refined sugar totaled 797,117 MT, down 11.80 percent from 903,712 MT in 2018. In terms of 50-kilogram bags, total output fell to 15.492 million bags from 18.074 million bags last year.
Demand for refined sugar however increased by 7.11 percent to 1.033 million MT from 964,714 MT.
On the other hand, total sugarcanes milled was 21.744 million MT, down 8.59 percent decrease from 23.788 million MT in 2018.
The wholesale price of raw sugar was quoted at P1,680 per 50-kilo bag, down 21.86 percent from last year’s P2,150 per 50-kilo bag. On the other hand, retail prices still averaged P45 to P50 per kilo as of July 7.
For the current crop year, the country’s raw sugar production is expected to decrease by 4.5 percent due to decline in production area and would still fall short in filling in the total national requirement, the United States Department of Agriculture (USDA) earlier said.
USDA said the Philippines would produce 2.10 million MT of raw sugar this crop year. The country produced 2.20 million MT of it in 2018. The crop year started in December 2018 and will end in November this year.
Credit belongs to : www.manilatimes.net