US awards Phl additional 60,000-MT sugar quota

MANILA, Philippines – The Philippines has been allocated by the US government an additional sugar export quota of 60,000 metric tons raw value (MTRV).

This was announced by USDA Secretary Tomas Vilsack last April 11.

Sugar Regulatory Administration (SRA) head Regina Bautista-Martin said the Philippines has a good chance to fill the additional quota as this year’s production is estimated to reach 1.98 million metric tons.

“Production looks good. We may hit our target of 1.98 million metric tons, ” Bautista-Martin said.

Rosemarie Gumera of the SRA’s policy planning department said the production estimate may be revised to a slightly lower figure of 1.97 million MT, which is about the same level as last year’s crop production.

Gumera said raw sugar production is down by four percent while refined sugar production is up by 30 percent.

Because of this, Gumera said the SRA is worried about the build up of sugar stocks and the decline of withdrawals.

Local demand for sugar, especially by beverage firms, is declining. As such, the SRA sees no need to import additional sugar this year.

Last year, the SRA had to resort to importations following a rise in local sugar prices. –Marianne V. Go (The Philippine Star)