The Sugar Regulatory Administration (SRA) has proposed to import 400,000 to 450,000 metric tons (MT) of refined sugar this year following the order of President Ferdinand 'Bongbong' Marcos Jr. to bring down the retail prices of the commodity.
In an interview, SRA board member Pablo Azcona said the import plan is now at the "drafting stage" as directed by the President, who also sits as the concurrent Agriculture secretary.
“So far the [planned] volume is swinging at 400,000 to 450,000 in total,” he said.
Based on the instruction of President Marcos, imported sugar should arrive as soon as possible to bring retail prices down immediately.
“Maybe first quarter or April, depending on the delays in the shipping. The first arrival is for immediate disposal. That’s what the President wants because he really wants to lower the retail price,” Azcona said.
