Sugar supply down 9%
MANILA, Philippines — Local raw-sugar production reached 1.45 million metric tons as of mid-March, nine percent lower than the same period last year, the Sugar Regulatory Administration (SRA) said.
Sugar crop year starts every September and ends in August.
Output in 50-kilogram bags totaled 29 million MT from 32 million MT.
Demand for the country’s raw-sugar was 11 percent higher to 1.22 million MT.
The declining output prompted the SRA to cut down its exports to world market and instead allocated more for domestic consumption.
The total sugarcanes milled during the period were 16.8 million MT, six percent lower than last year’s 17.8 million even as more mills started milling as of the end of February.
In terms of refined sugar, production increased by eight percent to 541,000 MT.
On the other hand, sugar prices at the mill gate started to improve, rising by 18 percent to P1,523 per 50-kg bag. Wholesale prices for raw, washed, and refined sugar have slightly increased but retail prices of the commodity were still on a low note.
- Latest
- Trending
