• GILBERT P. BAYORAN
With the Philippines currently experiencing a surplus in sugar production, there is no need to import sugar as of this time, the Philippine Sugar Millers Association Inc. (PSMAI) said yesterday.
In a statement, Jesus Barrera, PSMAI executive director, said that raw sugar production has reached 1.921 million tons, exceeding last year’s 1.799 million tons, while refined sugar production also went up to 687,823 tons from 624,389 tons last season, citing records of the Sugar Regulatory Administration as of May 12.
Barrera reported that inventory levels have also risen significantly, with 26 percent increase in raw sugar and 35 percent increase in refined sugar compared to the previous year’s inventory levels, totaling to 1.150 million tons raw equivalent.
Also included in the inventory is the 135,675 tons of imported refined sugar that were brought in last year that are still unwithdrawn and unused, he added.
“Our increased production has filled our warehouses so there is no need to import at this time,” Barrera said.
He also said that withdrawals or demand of domestic raw sugar and local refined sugar have decreased by 4.23 percent and 7.20 percent, respectively, while withdrawals of imported refined sugar have risen by 16 percent.
“Even with sugar milling already closed for the season, we are confident that our current sugar inventories will last beyond the start of the next crop year which is estimated to be on October 1 this year,” he added.
Barrera, however, said they will continue to monitor the impact of El Niño on the supply levels in the upcoming 2024-2025 harvest. | GB
