The government is rationalizing the importation schedule for sugar products to match the local production of the commodity, President Ferdinand R. Marcos Jr. said on Tuesday. “Sa (On) sugar, we are…
The government is rationalizing the importation schedule for sugar products to match the local production of the commodity, President Ferdinand R. Marcos Jr. said on Tuesday.
Marcos said having a buffer stock of sugar for two months will help stabilize the supply and prices of the commodity. The Department of Agriculture officials, during a sectoral meeting at Malacañan Palace in Manila, reported that the prevailing retail price of sugar from October 2022 to January 2023 was significantly higher compared to the price from October 2021 to January 2022.
During the same period, refined sugar production reached 316,829.15 MT, 34 percent higher than last crop year’s 235,838.45 MT, while domestic use of refined sugar for the same period is at 211,832.90 MT, 17.78 percent lower compared to last CY’s 257,646.75 MT.
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