Imported sugar will start arriving in the Philippines next week and every week after, to help bring down the retail price of sugar, Sugar Board Member Roland Beltran said yesterday.
“We expect that market forces will correct itself as soon as the imported sugar starts arriving and brings the much needed stability in sugar prices,” he added.
He said there are some who continue to take undue advantage of the tightness of sugar supply pending the arrival of the imported sugar.
The 200,000 MT of sugar allowed to be imported had been fully allocated to different importers, he added.
Enrique Rojas, president of the National Federation of Sugarcane Planters, had also pointed out earlier that the Sugar Alliance of the Philippines hasconverted ‘D’ sugar intended for the world market to ‘B’ sugar, to increase the supply in the domestic market.
The Sugar Regulatory Administration has also allowed the importation of sugar to address the rise in retail prices, he added.
“With these measures in place, we look forward to the normalization of sugar prices soon,” Rojas said.*CPG
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