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The Sugar Regulatory Administration halted the release of 150,000 metric tons of imported sugar to the market to arrest declining farmgate price of raw sugar
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SRA Resolution No. 2023-159 removes the deadline set by Sugar Order No. 07 for importers to reclassify, distribute and dispose of imported refined sugar, which effectively halts the release of the subject sugar to the local market
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The resolution is designed to ensure adequate volume of sugar for domestic use, protect farmers and millers, and sustain a reasonable farmgate price of approximately P3,000 per bag of raw sugar
The Sugar Regulatory Administration (SRA) has halted the release of 150,000 metric tons (MT) of imported sugar to the local market to arrest the declining farmgate price of raw sugar.
Under SRA Resolution No. 2023-159, dated September 26 but made public only on October 12, SRA deemed necessary to “hold in abeyance all applications of conversion and maintain the classification of all imported sugar as ‘Reserved’” until further notice, which effectively halts release of the subject sugar to the local market.
SRA Resolution 2023-159 is designed to ensure adequate volume of sugar for domestic use, protect farmers and millers, and sustain a reasonable farmgate price of approximately P3,000 per bag of raw sugar.
Sugar Order No. 07, dated May 25, allowed the importation of 150,000 MT of refined sugar to secure domestic consumption. Under the same order, the sugar shipment should arrive not later than September 15, 2023 and will be classified as “Reserved.”
Importers were given a 30-day deadline until October 15, 2023 to convert and dispose of imported refined sugar, under SO No 07. SRA Resolution No. 2023-159 lifted this deadline.
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