No molasses imports until March 2026 – SRA

MANILA, Philippines — The Department of Agriculture (DA) and the Sugar Regulatory Administration (SRA) have agreed to extend the moratorium on molasses imports, originally set to end this year, until March 2026.

The original order issued in September temporarily suspended imports to prevent the further decline of molasses prices.

The 21-percent increase in local output last milling season, combined with additional imports, pushed molasses prices to drop by nearly half to below 10,000 per metric ton (MT) in early November.

In his recommendation to Agriculture Secretary Francisco Tiu Laurel Jr., SRA administrator Pablo Luis Azcona said the board found the extension necessary as local stock inventories remain at about 250,000 MT — levels considered sufficient for domestic use.

He added that milling operations in Negros Island, which began on Oct. 1, have already produced nearly 84,000 MT of molasses as of Nov. 9.

Azcona noted that the extension aims to stabilize prices and ease pressure on millers’ storage tanks.

The Philippine Sugar Millers Association, Inc. (PSMA), representing roughly 70 percent of the country’s total sugarcane milling capacity, also supports the extension.

PSMA executive director Jesus Barrera said the initial moratorium period was insufficient, and the extension is “necessary to rebalance the market.”