Philippines: The Sugar Regulatory Administration (SRA) on Friday assured that the upcoming importation of refined sugar will not affect local sugar prices or harm farmers.
SRA Administrator Pablo Azcona said that the import of 424,000 metric tons, expected to begin arriving in the country on July 15, is part of the agency’s strategy to maintain supply stability without disrupting the current market dynamics.
“Our retail sugar prices have remained stable,” Azcona said during an interview on Bagong Pilipinas Ngayon. “Refined sugar has consistently stayed at P85 per kilo for the past three years, and we aim to keep it at that level.”
He further noted that over the past year, retail prices of brown and washed sugar have declined, benefitting consumers. At the same time, farmgate and millgate prices have gone up, offering better returns to farmers. “It’s a favorable situation for both producers and consumers,” Azcona added.
The SRA had earlier authorized the importation to ensure the country maintains an adequate supply of sugar for domestic use and reserve stock, amid fluctuating global supply conditions.
