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Imported sugar to arrive in November

 A man arrange sacks of sugar at at warehouse in marikina public market, bread prices increase due to rising prices of flour and sugar. Photo by John Orven VerdoteA man arrange sacks of sugar at at warehouse in marikina public market, bread prices increase due to rising prices of flour and sugar. Photo by John Orven Verdote 

THE Philippines will have 150,000 metric tons of imported sugar in November after the Sugar Regulatory Administration (SRA) issued Sugar Order (SO) 2 allowing the importation of the sweetener.

President Ferdinand “Bongbong” Marcos Jr. ordered the arrival of all imported sugar on or before Nov. 15, 2022.

The order was signed by Marcos and four other members of the SRA Board — Agriculture Senior Undersecretary Domingo Panganiban, Acting SRA Administrator David Alba, Acting Board Member-Millers’ Representative Ma. Mitzi Mangwang and Acting Board Member-Planters Representative Pablo Luis Azcona.

“Registered international sugar traders participating in this import programshall ensure their respective allocated volumes shall arrive in the Philippines not later than November 15, 2022. As such, each participant shall be given one month from November 15, 2022 to completely distribute their allocation to respective clients for industrial use and/or direct consumption and submit to SRA within 30 calendar days thereafter written proof of compliance to the said actual distribution,” SO 2 read.

Under SO 2, 75,000 MT will be allocated to industrial users and 75,000 MT to consumers.

The sugar imports are expected to help ease the tight supply and lower the prices of sugar in the local market.

Based on the daily monitoring of the Department of Agriculture in the wet markets in Metro Manila, the retail price of refined sugar is P100 per kilo.

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Credit belongs to : www.manilatimes.net

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