Ensuring a smooth supply of sugar to the domestic market and managing sugar prices, President Ferdinand R. Marcos Jr. has given the green signal to import 150,000 metric tons (MT) of refined sugar, reports Business Mirror.
The Sugar Order (SO) No. 2 has been issued by the Sugar Regulatory Administration (SRA) board, headed by Marcos as the Agriculture Secretary on Tuesday for the importation of sugar for the 2022-23 season.
As per the SO2, sugar has been imported to ensure domestic supply and manage sugar prices in the country.
The imported sugar will be equally divided between industrial users and consumers, it states. As per the SO2 order, the industrial users include food, biscuits, bread, candies, milk, confectioneries, and juice and beverage manufacturers.
The consumers include the wholesalers and traders engaged in selling sugar in bulk to retailers.
Three days after the SO2 becomes effective, the SRA will start accepting the applications for the importation of sugar, it said.