• GILBERT P. BAYORAN
The Sugar Regulatory Administration (SRA) has issued Sugar Order (SO) No. 2 for the voluntary purchase of crop year 2023-2024 locally produced raw sugar for classification to “reserve sugar” to avail of an allocation for a future import program.
The intention of the Voluntary Limited Volume Purchase (VLVP) is to help secure and stabilize the farmgate prices of locally produced sugar and at the same time ensure fair and reasonable retail prices, according to the SRA order issued on March 8.
The SO2 stated that “(a)fter taking into consideration all data on record and the comments of stakeholders, with the manifestation and support of registered sugar traders, the SRA deems it necessary to adopt additional responsive and pre-emptive measures through timely government intervention by way of limited volume purchase of locally produced sugar for a specified period of time”.
This is to maintain a balanced supply and demand of sugar for domestic consumption while ensuring reasonable and stable price, it added.
Based on the order, the initial maximum volume of locally produced sugar covered by the SO2 is 300,000 metric tons (MT) of raw sugar.
The 300,000 MT of locally produced raw sugar covered under the order shall be proportioned, with a maximum of 60,000 MT for sugar covered by quedans whose dates of issue are, on or before, the week ending Jan. 28 this year, and a minimum of 240,000MT for sugar covered by quedans whose dates of issue are on or before or after the week ending Feb. 3. | GB
