Metro Manila (CNN Philippines, February 16) — The country is importing 440,000 metric tons (MT) of refined sugar for consumption and buffer stock, according to a document.
Based on the document published on the Sugar Regulatory Administration (SRA) website, Sugar Order (SO) No. 6, issued on Feb. 15, was signed by Administrator David John Thaddeus Alba, SRA board members Mitzi Mangwag (representing millers) and Pablo Luiz Azcona (representing planters), and Agriculture Senior Undersecretary Domingo Panganiban.
“Malacañang sent the order back,” Azcona told CNN Philippines’ The Source on Thursday, adding that “as far as I know once Malacañangreturns it to us, it is considered approved.”
Marcos, as the agriculture chief, is chairman of the sugar board.
CNN Philippines is seeking clarification from Azcona if Panganiban signed on behalf of the president.
Based on the SO, 200,000 MT of the imported sugar will be for consumers and 240,000 MT to serve as two-month buffer stock.
The supply will arrive in three tranches, with the first 100,000 MT expected “to arrive as soon as possible,” the next 100,000 MT to arrive before April 1, and the batch for buffer stock after the second tranche.
Azcona said the economic advisers insisted that the first batch arrive as soon as possible “to end the speculation of a shortage”
“What is going on right now is there is just an urgent need to temper the retail prices for the consumers, at the same time ensuring that the farmers get a very fair price,” he explained.
Based on the Department of Agriculture’s latest price monitoring, a kilogram of refined sugar in Metro Manila markets costs between ₱87 to ₱ 110.
Azcona said SRA is eyeing a retail price of ₱85 once the imported commodity is released to markets.
This will only happen after the imported supply, initially classified as “C,” or reserved upon its arrival, will be reclassified by the sugar board as “B” for consumer use.
Meanwhile, the 240,000 MT will remain as buffer stock and will only be released once the inventory and everything are deemed proper, he noted.
For crop year 2022-2023, Azcona said the SRA is projecting a total production of around 1.8 million MT, slightly higher than the previous year’ s 1.79 million MT. However, this was lowered from the initial projection of 1.9 million due to rains that have affected crops.
