The Sugar Regulatory Administration (SRA) approved on Wednesday, Feb 15, the importation of 440,000 metric tons (MT) of refined sugar to reduce its price in the country.
Under the released Sugar Order (SO) No. 6, the importation aims to "maintain a balanced supply and demand of sugar for domestic consumption while ensuring stable prices."
The imported sugar will be broken down into two — 200,000 MT allocated for consumers and 240,000 MT as buffer stock for release upon approval of the SRA Board.
The SO, however, did not bear the signature of President Ferdinand Marcos Jr., who currently sits as the Secretary of the Department of Agriculture (DA).
SRA Board Member Pablo Azcona clarified that the president was represented by Agriculture Senior Undersecretary Domingo Panganiban.
Period of Import Arrival
Eligible importers are required to ensure that sugars will arrive on the following dates:
- For the first arrival of refined sugar, 100,000 MT to arrive as soon as possible
- For the second arrival of refined sugar, 100,000 MT before April 1, 2023
- For the buffer stock of refined sugar, 240,000 MT is to arrive no earlier than April 1, 2023
Farmers livelihood
Meanwhile, Arcona reiterated that the approved importation was to cut down the price of sugar to 85%.
“We are trying po to make sure that the retail price will go down by 85 percent without hurting the farmers,” he said.
He then assured that SRA will ensure that farmers will not be affected by the imported sugars.
“The importation of sugar is aimed lowering the consumer price, at the same time, making sure that our farmers would get a fair price so they can continue planting and hopefully expand their farms to make our country self-sufficient on sugar,” he added.
