The domestic sugar production is likely to increase in the next crushing season and the domestic consumption has fallen due to lockdown. On this background, the Philippine Sugar Millers Association (PSMA) has requested the Sugar Regulatory Administration (SRA) to increase the sugar export quota to the United States from the existing 5 per cent to 7 per cent. This would help in reducing high carry-over stocks.
As per media reports, the country expects 2.19 million tonne output for the next season. According to the PMSA, the country would start the next season with a carry-over stock of 678,460 metric tons.
To Listen to this News click on the play button.