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Manila Bulletin devider Philippines devider National devider 440,000 MT of imported sugar to reduce retail price by 85%

440,000 MT of imported sugar to reduce retail price by 85%

Published Feb 15, 2023 07:10 pm

The Sugar Regulatory Administration (SRA) is hoping that the importation of 440,000 metric tons of refined sugar would lead to the reduction of its suggested retail price in the market by 85 percent.

But Pablo Luis Azcona, board member and Planters representative of the SRA, assured that they will take steps to ensure that the release of the imported sugar, once it reached the country, would not have adverse effects on local farmers.

"We are trying po to make sure that the retail price will go down by 85 percent without hurting the farmers," said Azcona.

The importation of the 440,000 metric tons of refined sugar was already approved by the SRA-- 240,000 metric tons of them will be used as buffer stock.

It is not immediately clear when the imported sugar would arrive.

Azcona said all those that would be imported were refined sugar since the country has enough raw sugar from local farmers.

"The importation of sugar is aimed lowering the consumer price, at the same time, making sure that our farmers would get a fair price so they can continue planting and hopefully expand their farms to make our country self-sufficient on sugar," said Azcona.

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refined sugar Sugar importation SRA
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