Sugar Regulatory Administrator Ma. Regina Bautista-Martin yesterday said 55,590 MT have been posted for delivery from the Philippines to the World market for March 2012.
This will be delivered by several traders, she said.
With the appreciation in the price in the world market, it is expected that volume will increase and will hit the target of at least 100,000 metric tons for world exports, she added.
The country’s sugar production as of February 26, 2012 have surpassed the 1.5 million MT level. This is still higher by 12.26 percent than last year's production for the same period, she said.
SRA, though, is closely monitoring the standing crop as many planters in Negros who will be completing their harvest.
Estimated production for the crop year is placed at 2.242 million but data from the fields indicate that this could go down below the 2.2 million support level, she said.
The Memorandum Circular of the Department of Energy mandating the purchase of locally-produced ethanol by the oil companies has been issued. The process has started and the physical mandatory lifting will start by April 2012, Martin also reported.
Ethanol producers are hopeful that the implementation will be smooth to attract more investors to put up more distillers, she said.
The National Biofuels Board has calculated that 13 more distillers need to be added to the present three distilleries in operation, she said.
Meanwhile, the Sugarcane Industry Study Group met for the third time to consolidate and prioritize the issues and concerns that need to be addressed for the year 2015 and beyond, she said.
Among the priority issues identified are: farm productivity, SRA functions, research and development, economic zones, benchmarking, smuggling, marketing/reference prices, mill productivity, subsidies, and CARP, she said.
“Action Plans will be formulated for each issue. Implementation will be done within the first quarter of Year 2012,”Martin added.*CPG