There is an increased demand for sugar in 2019, but the country has sufficient supply, Sugar Regulatory Administrator Hermenegildo Serafica assured yesterday.
He attributed the increase in demand for sugar to the fact that beverage manufacturers have veered away from high fructose corn syrup (HFCS) that is taxed P12 per liter, while sugar is taxed at P6 per liter.
Sugar Order No. 10 series of 2017-2018 that granted sugar importation last year allowed the entry of about P200,000 metric tons of sugar, of which 20,000 metric tons is still in warehouses of importers waiting to be sold, Serafica said.
Under Sugar Order no. 2 series of 2018-2019, the SRA also allowed the entry of 150,000 metric tons as “B” sugar for the domestic market and an additional 136,000 metric tons as “C” sugar or reserve which has already been reclassified to “B”, he added.
All 150,000 metric tons of “B” sugar and 125,000 metric tons of the “C” sugar are already in accredited warehouses that brings the total to 275,000 metric tons, while the rest are in the process of being withdrawn from the Bureau of Customs, Serafica said.
Based on SRA regulations data this should be enough to satisfy domestic demand until the mills' production reach their peak, which happens around January to March of each year, he added.
A crop year for sugar starts September 1 and ends August 31 of the following year, Serafica said.*
back to top