Manila: The Sugar Regulatory Administration (SRA) has given the green light for the importation of 424,000 metric tons (MT) of refined sugar under Sugar Order 8. This approval marks the first instance of sugar importation for the 2024-2025 cropping year, aiming to maintain a stable sugar supply for domestic consumption and a reliable buffer stock.
According to Philippines News Agency, the current supply of refined sugar in the country stood at 1.12 million MT as of June 22, as reported by the SRA. The importation initiative seeks to bolster this supply, ensuring it meets the needs of the population.
The importation program is open to licensed SRA international sugar traders who are in good standing. Eligible participants include traders who have previously engaged in the voluntary purchase of sugar from local farmers or those who have exported sugar to the United States. The arrival of these sugar imports is scheduled to be permissible from July 15 to November 30.
The SRA has also issued a warning that any importation by ineligible traders or those without proper allocation approval could be deemed as 'smuggling.' Such activities may be subject to prosecution under the Anti-Agricultural Economic Sabotage Act.
