Manila: Food manufacturers in the Philippines have urged the government to continue with its plan of importing 200,000 metric tons (MT) of refined sugar as there is a demand-supply gap.
The Philippine Chamber of Food Manufacturers Inc. (PCFMI) issued a statement supporting Sugar Order No. 3 issued by the Sugar Regulatory Administration (SRA) which allows the importation of 100,000 MT of standard grade refined sugar and 100,000 MT of bottlers’ grade refined sugar.
PCFMI comprises 107-members involved in local manufacturing and distribution of essential commodities like bakery products, noodles, milk, and coffee.
“We support the SRA as there is a shortage of refined sugar in the domestic market and this is affecting the business of food manufacturers,” said the PCFMI in the release.
“The stocks of most of the members would be exhausted in March and it would be difficult for them to continue manufacturing,” it said.
SRA had lowered its raw sugar estimate to 2.072 million MT due to the damage caused by Typhoon Odette which has resulted in a lower supply of sugar and ultimately an increase in sugar prices in the domestic market.
