• GILBERT P. BAYORAN
The Sugar Regulatory Administration issued Sugar Order No. 2 for the voluntary purchase of crop year 2023-2024 locally produced raw sugar, for classification as “reserve sugar,” in order to avail of allocation for a future import program.
The intention of the Voluntary Limited Volume Purchase (VLVP) is to help secure and stabilize the farmgate prices of locally produced sugar, while at the same time ensuring fair and reasonable retail prices, according to the SRA order issued on March 8.
After taking into consideration all data on record and the comments of stakeholders, with the manifestation and support of registered sugar traders, the SRA deems it necessary to adopt additional responsive and pre-emptive measures, through timely government intervention by way of the limited volume purchase of locally produced sugar for a specified period of time, in order to maintain a balanced supply and the demand of sugar for domestic consumption, while ensuring reasonable and stable price, the order stated.
The initial maximum volume of locally produced sugar covered by SO2 shall be 300,000 metric tons of raw sugar.
The 300,000 MT of locally produced raw sugar covered under the order shall be proportioned, with a maximum of 60,000 MT, for sugar covered by quedans whose dates of issue are on, or before, the week ending January 28 this year, and a minimum of 240,000MT for sugar covered by quedans whose dates of issue are before or after the week ending February 3.*
