Philippines: Luzonfed backs sugar imports to avoid price hike

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Manila: To fulfill the deficit in domestic production, Sugar Regulatory Administration (SRA) in the Philippines had allowed the importation of 250,000 metric tons of refined sugar. Following which, SRA received criticism by many from the country’s sugar industry. But, now The Luzon Federation of Sugarcane Growers Association (Luzonfed) comes to SRA rescue and supports the sugar import to stabilize prices in the local market.

In a released statement, Luzonfed chairman Cornelio Toreja said their group believes that “the SRA maintains statutory and discretionary authority to allow imports when local production cannot meet domestic demand.”

“Drastic hike in sugar prices can be prevented by timely and limited importations,” Toreja further added.

SRA believes that sugar import will aid to fulfil the shortage in domestic production to meet the rising demand and to avoid the possible sugar price hike.

SRA advocates for timely government intervention through importation to maintain a balanced supply and demand and restrict an unreasonable surge in sugar prices. Amid high prices of sugar, local manufacturers and processors have been calling for the importation of sugar. The importation program is open to all industrial users, including food, confectionaries, biscuits, beverage manufacturers, consumers and end-users such as retailers, traders, and repackers. Sugar mills can also avail it.100,000 MT is allocated for industrial users, while the rest 150,000 MT is for consumers, and sugar producers. The eligible importers can avail it on a first-come, first-serve basis.

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