The country’s sugar production has continued to increase as of third week of July, the Sugar Regulatory Administration said.
In its latest supply and demand situation report, the SRA said that from September 1, 2019 to July 19, the total production of raw sugar was 2,145,624 metric tons from 2,072,351 MT in the same period the previous year, or an increase of 3.54 percent.
The output is equivalent to 42.912 million 50-kilo bags this year, from 41.447 million in 2019.
The sugar crop year starts every September and ends in August.
But even if the production of raw sugar slightly increased this year, its demand fell by 2.25 percent, from 1.913 million MT in the previous year to 1.870 million MT.
Production of refined sugar, meanwhile, has increased by 4.77 percent at 835,154 MT, from 797,117 MT in the previous year, the SRA said.
Production of molasses also improved by 10.27 percent, from 1.019 million MT to 1.124 million MT, it added.
Total sugarcane milled increased by 7.14 percent, at 23.298 million MT from 21.744 million MT.
The SRA said the current sugar millgate price is at P1,394.50 per 50-kilo bag, while the prevailing retail price of raw sugar in the market remains at P45 per kilo.*
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