SRA allows sugar exporters to US to replenish stocks via importation

📆 10/1/2563 10:00:00
📰 manilabulletin

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Local sugar producers who exported more than 100,000 metric tons (MT) of sugar to the United States to help the Philippines fulfill its obligation the world’s biggest economy will be allowed to import to replenish their stocks, according to the newly issued order from the Sugar Regulatory Administration (SRA).

On January 6, SRA signed Sugar Order No. 4 to order the so-called “‘A’ Sugar Export Replenishment Program,” which allowed those who exported sugar to US during the current crop year to import the corresponding volume of sugar that they exported at a ratio of 1:1. SO 4 was released to the public on late Wednesday.

SRA Board Member Beltran said before that there’s a need for the Philippines to set aside portion of the country’s sugar production to the US despite the tight supply because the country can’t afford to lose it as a market, especially when there’s going to be an excess.

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