SRA OK’d import of additional 150,000 MT of refined sugar
The Sugar Regulatory Administration (SRA) has given the green light for the importation of 150,000 metric tons (MT) of refined sugar to ensure sufficient supply, mostly for domestic consumption.
According to SRA’s Sugar Order No. 7 issued on July 6 and signed by President Marcos, who chairs the sugar board in his concurrent capacity as agriculture secretary, eligible importers need to ensure that their allocated volumes arrive in the country by Sept. 15.
Importers will be given a month from the shipment arrival to completely distribute their allocations and submit to the SRA written proof of compliance.
The SRA added that the maximum volume already included a two-month buffer stock that would be released to consumers subject to the board’s approval, but it did not specify how this would be split among consumers, which include wholesalers, retailers, institutional users and manufacturers.
SRA fee of P33 per bag
A clearance fee of P33 per 50-kilogram bag of imported sugar will be collected by the SRA, while every allocation will also be subject to a P750 bond per 50-kg bag.
This is the second Sugar Order issued by the SRA this year.
In February, it authorized the import of 440,000 MT of refined sugar that had to be delivered by April to balance domestic supply and demand while stabilizing retail prices.
At least 200,000 MT were allotted for consumers, while the remaining 240,000 MT were set aside for the country’s two-month buffer stock.