November 8, 2021
Catherine Talavera (The Philippine Star) | https://bit.ly/3mWJ5QP
MANILA, Philippines — The country’s sugar production continued to post gains two months into the crop year, according to latest data from the Sugar Regulatory Administration (SRA).
Figures from the SRA showed that raw sugar production reached 184,674 metric tons (MT) as of Oct. 24, up 39.12 percent from the 132,746 MT in the same period last year.
Output in terms of 50-kilogram bags reached 3.69 million, higher than the 2.65 million a year ago.
This brought the current raw sugar supply to 437,081 MT, 12.92 percent higher than the 387,067 MT in the same period in the previous crop year.
The sugar crop year starts every September and ends in August.
SRA data also showed that demand for raw sugar inched up 3.35 percent to 205,426 MT from 198,776 MT in the same period last year.
The total sugarcane milled rose 31.18 percent to 2.3 million MT from 1.76 MT last year.
SRA data also showed that the millgate price of sugar increased by 16.92 percent to P1,725.05 per 50-kilo bag from P1,475.37 in the same period last year.
For the current crop year, the SRA estimates raw sugar production to reach 2.0997 million MT.
The SRA also allocated the entire sugar production for the current crop year for the “B” market.
It classifies sugar into “A” for sugar for export to the US, “B” for domestic consumption, “C” for reserves, “D” for export to countries other than the US and “E” for food local processors.
In allocating the entire production for the domestic market, the SRA took into consideration statements from the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAG-ASA) on the reemergence of the La Niña phenomenon either in late October or November this year until the first quarter of 2022, which encompasses almost all sugar producing provinces at their start and peak milling for the crop year.
Sugar industry stakeholders earlier welcomed the domestic market allocation as it will ensure the stability of local supply.
Raw sugar production in the 2020 to 2021 crop year reached 2.143 million MT, slightly lower than the 2.145 million MT in the previous crop year.