Sugar imports at record high 350K MT

The Sugar Regulatory Administration (SRA) recently ordered the additional importation of about 150,000 metric tons (MT) of sugar, after importing 200,000 MT of the sweetener in June.

This brings total imports this year to a record high of 350,000 MT, based on data from SRA.

These two tranches, however, are effective in two different crop years.

The last time the country imported sugar was in 2016, with a volume of 170,000 MT. In 2009, it imported about 250,000 MT, the second highest on record.

Based on SRA’s latest sugar order, wholesale and retail prices of sugar are currently “high under normal conditions.”

SRA noted that prices of sugar and other sweeteners rose 9.1 percent in August from 7.4 percent in July.

The agency also predicted a decline in local sugar production to 2.25 million MT this crop year, down 5.4 percent from last crop year’s production at 2.38 million MT.

In an administrative order issued by President Duterte, it noted that sectors may import to “address shortfall on supply and ensure stables prices of agricultural products in the domestic market.”

Sugar board member Roland Beltran said in a text message that the agency’s latest move was “preemptive.”

“Our data shows tightness of sugar supply between the months of September and December,” he said. “This is a preemptive importation to stabilize prices.”

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