The Philippines is mulling over importing as much as 450,000 metric tons (MT) of raw and refined sugar to further beef up its supply and temper retail prices. Know more:
The Philippines is mulling over importing as much as 450,000 metric tons of raw and refined sugar to further beef up its supply and temper retail prices.
No less than President Marcos Jr. revealed the national government’s plan to maintain a two-month sugar buffer stock to manage price fluctuations. Talks on a new sugar import program started in December as the SRA has been monitoring the country’s sugar supply and price situation.“The instruction of the [Department of Agriculture], maybe from Malacañang as well, is that they want the volume of sugar to arrive as soon as we can. Maybe in the first quarter or April, depending on shipping delays.”
Despite the recommendation to import sugar, Azcona said he still does not believe that the country is suffering from a “physical shortage” of the sweetener.
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