Manila: The Department of Agriculture (DA) announced Wednesday that the Sugar Regulatory Administration (SRA) is extending its moratorium on molasses importation until March 2026. The extension came after SRA's assessment showing that current local stocks are adequate to meet domestic requirements.

According to Philippines News Agency, local and imported molasses are used for 'baking, confectionery, cooking, and beverages, production of animal feeds, vinegar, citric acid, potable and sanitary alcohol,' while only local molasses is used for bio-ethanol production. DA Secretary Francisco Tiu Laurel Jr. stated that the decision would help protect local farmers by preventing a further drop in farmgate prices.

'Based on the recommendation of the SRA, and in the interest of our farmers and millers, Administrator Azcona and I have agreed to extend the moratorium on molasses imports until March 30, 2026-or further, depending on local stock levels,' he said in a press statement.

For his part, SRA Administrator Luis Pablo Azcona underscored the importance of the extension, noting that prices have fallen by almost half, dropping below PHP10,000 per metric ton (MT). 'The extension will help relieve our millers' tanks of local stock and, hopefully, support better molasses prices,' he said.

Local stocks currently stand at about 250,000 MT, supported by a 21 percent rise in production during the last milling season, combined with existing imports. As of Nov. 9, molasses output in Negros Island has reached nearly 84,000 MT since milling operations began on Oct. 1, according to the SRA.