PRESIDENT Ferdinand Marcos Jr. on Tuesday ordered the establishment of a two-month buffer stock for sugar to temper market price and ensure availability. 'To cut down speculation,...
PRESIDENT Ferdinand Marcos Jr. on Tuesday ordered the establishment of a two-month buffer stock for sugar to temper market price and ensure availability. 'To cut down speculation, we are guaranteeing a buffer stock of two months. So, hindi magkaka-shortage, hindi dapat tataas ang presyo ,' he said in a video statement.'We are beginning to rationalize this buying schedule, the importation schedule, so that we will match the crop here of the local producers of sugar.
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. The refined sugar stock balance, meanwhile, is 132,384.55 MT, 8.68 percent higher compared to last CY's 121,813.25 MT. The Sugar Regulatory Administration projects a negative sugar-ending inventory by July 2023.
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