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PH sugar output seen further declining next crop year

By: - Reporter / @kocampoINQ
/ 05:18 AM August 30, 2018

The country’s sugar output is expected to further decline in the crop year beginning September 2018, as more farmers shift to other crops amid unfavorable weather conditions.

The Sugar Regulatory Administration (SRA) said in its latest Sugar Order 1—which guides the SRA in setting its policies for the concerned crop year —that sugar output is expected to reach 2.25 million metric tons (MT) next crop year, down 5.4 percent from the previous year’s 2.38 million MT.

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Of the total volume, 95 percent will be allocated for local consumption while the rest will be exported to the United States.

SRA administrator Hermenegildo Serafica attributed the output cut to adverse weather conditions.

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Also, some sugar farmers have shifted to other crops, causing planting areas for sugarcane to shrink.

Despite the decline, Serafica said the estimated output would still be enough to meet current demand.

Due to the tight supply of sugar, and aggravated by market speculation, the local price of raw sugar skyrocketed by as much as 42 percent from the previous year and reached the P2,000-mark per 50-kilogram bag.

As of last week, the average price for raw sugar went down slightly to P1,990 per LKg.

SRA board member Roland Beltran said the agency had no plans at this time to again import sugar, but that the agency would closely monitor sugar production.

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TAGS: Hermenegildo Serafica, sugar, Sugar Regulatory Administration (SRA)
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