The growing shortage of sugar in the Philippines forced the country to boost imports

Published 2022년 8월 18일

Tridge summary

The Philippines is facing a significant sugar shortage, with domestic sugar prices soaring above 100 Pesos/kg due to limited supply and increased costs of fertilizer and fuel. The Sugar Regulatory Authority (SRA) predicts a shortage of around 300,000 tonnes before the 2022/23 milling season, leading to concerns about the impact on consumers and the local economy. In response, the SRA has proposed to import 300,000 tons of sugar and has announced sugar order No. 4 to address the negative balances in domestic inventories. Half of the imported sugar will be allocated for industrial use, while the remaining half will be distributed among producers and traders.

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Original content

Before rumors of a serious shortage of sugar in the Philippines, sugar mills had a move to go into operation before the normal milling season. This will partly help solve the problem of sugar shortages while also boosting the local economy. Limited supply pushed domestic sugar prices up above 100 Pesos/kg, prompting the Ministry of Agriculture and the Sugar Regulatory Authority (SRA) to step in. In early August 2022, the President of the Philippines appointed Valderrama, President of the Vicmico Horticultural Association, Inc. and Director of the Federation of Sugar Producers. He said that the rising price of fertilizer and fuel is one of the factors causing the price of sugar to increase rapidly. The industry must work towards protecting even small sugar producers. The SRA has forecast a sugar shortage before the start of the milling season for 2022/23 which is estimated at 300,000 tonnes. Sugar prices have skyrocketed above 100 pesos/kg at traditional markets and grocery ...

Source: Vinanet