Last option; NFSP: Sugar importation should be last resort to curb price hike

Posted by watchmen
June 28, 2024
Posted in HEADLINE

By JEN BAYLON

The National Federation of Sugarcane Planters (NFSP) said the government should only import sugar when it is “absolutely necessary,” stating that it should be their last resort to ensure stable prices of the commodity.

This comes after the Department of Agriculture (DA) plans to import around 200,000 metric tons of refined sugar in September to prevent price hikes in the retail market.

NFSP president Enrique Rojas, in a statement yesterday, said the importation will be done “in such manner and schedule that it will not affect mill gate prices of sugar.”

“The arrival of the imported sugar should be calibrated and properly scheduled, so that it will not depress mill gate prices at the start of the next milling season,” Rojas said.

“We need to verify the actual sugar stocks, including the remaining volume of the previous importations and the projected production at the start of the next milling season, before we finalize the actual volume and authorize any importation,” he added.

Rojas said they are not against importation, and have always stood by their position that it should only be the last option.

“We should also ensure that the trigger point on actual sugar stock levels will be reached before we import,” he said.

On Wednesday, June 26, Agriculture Secretary Francisco Tiu Laurel, Jr. said the proposed importation of sugar intends to cover the supply gap before the milling season starts in October.

Laurel said the DA will be finalizing its sugar order next month, as supply is expected to drop in August.

He said that they have already consulted sugar stakeholders about the proposal.

The secretary added that the DA and the Sugar Regulatory Administration (SRA) will meet to formalize the planned importation in July.

SRA Administrator Pablo Luis Azcona said the importation under Sugar Order No. 2 was already planned early this year, and was formally signed on March 8. / With reports from PNA and GMA Integrated News / JB, WDJ

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