Manila: The Philippines has officially surpassed the 2 million metric tons (MT) mark in local sugar production, as announced by the Department of Agriculture (DA) on Wednesday. This achievement is seen as a positive outcome of the administration's efforts to enhance local agricultural production, in alignment with President Ferdinand R. Marcos Jr.'s directive to support farmers.
According to Philippines News Agency, DA Secretary Francisco Tiu Laurel Jr. highlighted this milestone as a testament to the administration's effective strategies. "Guaranteed na mag-breach tayo (that we will breach) and we will have the highest harvest of sugar in history. So, that is good news," he stated. As of June 8, the Sugar Regulatory Administration (SRA) reported a harvest of 2.015 million MT of local sugar.
This marks the first time since the cropping year 2020 to 2021 that the country has breached the 2 million MT mark, surpassing the previous projection of 1.7 million MT. Secretary Tiu Laurel also indicated that production might continue to rise in the remaining weeks of milling, hinting at the potential for achieving self-sufficiency in the coming years. The country's production demand is currently set at 2.3 million MT, as per the SRA.
During the last crop year, the Philippines recorded a raw sugar output of 1.922 million MT. The improved harvest has been attributed to the "cropping intention" of local farmers, supported by stable sugar prices. "Na-stabilize natin (We're able to stabilize it). If a product is stable, people can plan. People can plan for the next planting season," Tiu Laurel explained.
Pricing stability has encouraged planting intentions, as farmers are not hesitant due to consistent farmgate and retail prices. As of June 1, the average mill site price was set at PHP2,712.55 per 50 kg of raw sugar. The average wholesale price was PHP3,135 per 50 kg, equating to an average retail price of PHP74.92 per kg in wet markets and PHP79.46 per kg in supermarkets in Metro Manila, as of May 30. Refined sugar prices were pegged at PHP83.54 per kg in wet markets and PHP89.30 per kg in supermarkets.
In contrast, retail sugar prices surged to PHP130 per kg in August 2022, driven by declining stocks of refined sugar in the country.
