• GILBERT P. BAYORAN
The Department of Agriculture (DA) and the Sugar Regulatory Administration (SRA) have extended the moratorium on molasses importation until the end of March next year to prevent farmer prices from falling further.
In a statement on Wednesday, Nov. 26, the SRA said that a 21 percent increase in molasses production last milling season, coupled with additional imported supply, pushed prices down by almost half to below P10,000 per metric ton in early November.
In his recommendation to Agriculture Secretary Francisco Tiu-Laurel, SRA chief Pablo Luis Azcona said the Board found the extension necessary, noting that local stock levels remain at around 250,000 metric tons, which is considered ample for domestic use.
Azcona reported that molasses production reached almost 84,000 tons as of Nov. 9, when milling operations started on Oct. 1 in Negros Island.
Tiu-Laurel said that he and Azcona have agreed to extend the moratorium on molasses imports until March 30 next year, or even further, depending on local stocks level.
“Based on the recommendation of the SRA, and in the interest of our farmers and millers, Administrator Azcona and I have agreed to extend the moratorium on molasses imports until March 30, 2026 or further, depending on local stock levels,” he added.
Despite the moratorium, Azcona noted that stock levels remain high.
“The extension will help relieve our millers’ tanks of local stock and hopefully, support better molasses prices,” he said. “The SRA and the DA may also amend the moratorium order as needed, depending on total molasses inventory.”
Only locally produced molasses is allowed to be used for bio-ethanol production while both local and imported molasses may be used for baking, confectionery, cooking, beverages, production of animal feeds, vinegar, citric acid, and potable and sanitary alcohol, among others. | GB
