The Sugar Regulatory Administration (SRA) has stated that the country will import 200,000 metric tonnes of sugar for the crop year 2021-22 to keep a check on the rising domestic prices of the commodity, reports Inquirer.net.
The sugar prices in the country are rising despite stable local production.
The new policy guidelines mentioning the decision on importing sugar in the Sugar Order No. 3 have been made public on Friday.
“The SRA has received inputs from the Department of Agriculture about the increase in the local sugar prices despite the steady production and should take steps to increase imports to stabilize the prices,” said the report.
The SRA plans to import 100,000 metric tonnes of standard grade refined sugar while the 100,000 MT would be refined sugar with “bottlers’ grade” for the beverage industry.
According to SRA the damage caused due to Typhoon “Odette” (international name: Rai) to the sugarcane crops grown in Negros, Panay and Eastern Visayas has led to the increase in wholesale and retail prices of raw and refined sugar. The sugarcane as well as sugar stocks in warehouses and facilities at sugar mills and refineries were also damaged due to the Typhoon.
