The export of raw sugar to the United States is not a priority right now as the country continues to reel from tight supply of sugar, the Philippine Sugar Millers Association (PSMA) said.
THE export of raw sugar to the United States is not a priority right now as the country continues to reel from tight supply of sugar, the Philippine Sugar Millers Association said.
The Philippines has been a long-time beneficiary of the United States’s tariff-rate quota system for its sugar imports. Under the TRQ system, the Philippines receives a raw sugar allocation that is allowed to enter US soil at a lower tariff rate. The SRA board has the power to classify the country’s sugar output depending on its destined market: A for the US market, B for the domestic market and D for the world market. A “C” sugar would refer to reserved sugar that could be further reclassified by the SRA board as either A, B, or D.
“The problem right now is that ‘B’ sugar prices are higher than ‘A’ sugar prices. What if there comes a time wherein the price of ‘B’ sugar is P2,500 and the price of ‘A’ sugar is P4,000? Then we should export,” he said.
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