SRA asks NFA to hold 3rd bidding for importation of 22,700 metric tons sugar

MANILA, Philippines - The Sugar Regulatory Administration (SRA) will recommend that the National Food Authority (NFA) conduct a third bidding for the importation of 22,700 metric tons of sugar.

SRA policy planning department head Rosemarie S. Gumera said the recommendation was to proceed with a third auction “as soon as possible.”

Gumera said the bidding rules would remain the same.

The SRA-NFA has conducted two biddings, the latest of which was last month (April 21) during which it was able to award the right to import 22,400 MT.

The SRA-NFA had initially tried to bid out a total of 60,000 MT.

During the first auction, demand appeared lukewarm, resulting in the awarding of only 14,900 MT.

During the second auction, a total of 45,100 MT was on offer, but once again, interest was limited to industrial users for which there is a limited quota.

 The remaining allocation for importation is for retailers and repackers, who however, find the import cost too high especially as world sugar prices have softened.