SRA okays 240K MT sugar importation

The Sugar Regulatory Administration (SRA) has approved the importation of 240,000 metric tons (MT) of refined sugar to ensure that current retail prices are maintained.

The imports would also guarantee that local farmers, of whom 85 percent are land reform beneficiaries, a fair and stable price, according to SRA Administrator Pablo Azcona.

Based on Sugar Order (SO) 5, the sugar import program aims to secure for the country a sufficient supply of sugar for domestic consumption and a buffer stock following the El Niño onslaught that affected the sugarcane for crop years 2024 to 2025.

Of the 240,000 MT sugar import, a maximum volume of 176,500 MT refined sugar will be allocated to eligible importers who qualified under SO 2, while a maximum volume of 63,500 MT will be allocated to eligible importers who qualified under SO 3.

“The importation is for 176,000 MT, more or less, which is based on Sugar Order 2, which was the voluntary purchase of farmer sugar to be classified as (a) reserve to avail of allocation for a future import program. The 63,500 volume import is for the replenishment of the sugar exported to the US, a market cheaper (than) our domestic market,” Azcona explained.

The SRA chief noted this is the first time importers have had to support local farmers to be eligible to import, as importers in the past administrations were chosen subjectively, “whether first come, first served, or others, with volumes based on the decision of the SRA admin and/or SRA board.”