PH ready to ship more sugar to US, other markets
MANILA, Philippines - The increase in the projected sugar production of the Philippines will enable Manila to ship more sugar to the US next year, according to the Sugar Regulatory Authority (SRA).
In a statement on Friday, August 31, the SRA said it will be able to meet the US sugar quota of 138,827 metric tons and send possible additional quota of 61,993 MT, should the US require it, next year.
The export of sugar follows a fiscal year that ends on September 30. The US, meanwhile, will announce in April 1 next year if it will require additional sugar shipments.
"With the above allocation, the country will be able to meet the regular US quota of 138,827 MT, a buffer stock for possible additional US quota of around 61,993 MT, around 2.03 million MT of domestic demand including buffer stocks and around 247,000 MT for the world market," the SRA said.
SRA said sugar output for crop year 2012-2013 may grow by 5% to 2.356 million MT.
The SRA said the inventory for sugar by the end of the year was estimated at 30,144 MT for "A" sugar or those destined to the US; 143,661 MT for "B" sugar; and 58,793 MT for "D" sugar or those for world export.
For crop year 2011-2012, the Philippines was able to post total raw sugar production of 2.243 million MT.
This crop year, the Philippines has shipped out 326,379 MT to the world market and 200,561 MT to the US as quota. - Rappler.com