The Philippines is facing a shortage of sugar from last few years and should not export the commodity considering domestic demand, said a senior official.
Steven Chan, Chairman, Central Azucarera de Bais, said that this should be the only reason for the Philippines halting sugar export.
At the beginning of every sugar year, Sugar Regulatory Authority (SRA) decides the amount of sugar needed for domestic use and fixes amount to be exported.
From the last 10 years, we are a net importer of sugar as domestic output is not sufficient to meet domestic needs, said Chan.
“Our total sugar consumption in last four years is around 2.5 million MT which is more than our sugar output,” he said.
According to SRA, sugar output for this crop year is estimated to be 2.19 million MT, 2% more than the previous crop year’s output (2.145 million MT).