The Confederation of Sugar Producers Associations (Confed) is urging the government to consider importing sugar fewer than the planned 450,000 metric tons (MT) as two-month buffer stock.
Confed said it submitted a letter to the Sugar Regulatory Administration (SRA) on Friday urging the agency to phase the volume of imports and time their arrival judiciously so as not to affect adversely the mill gate price of sugar at the tail end of the current milling season and the start of the crop year ahead.
The federation said the letter was in response to the SRA call for stakeholder comments and recommendations on the import request by the carbonated soft drinks (CSD) industry represented by the manufacturers of Coca-Cola, Pepsi-Cola and RC Cola.
It said the CSD industry informed the Office of the President that the sugar inventory will last only until the second quarter this year and the resulting sugar shortage puts at risk not only their continued operation but the livelihood of thousands of employees, dealers and the downstream businesses.
The CSD industry also asked President Ferdinand Marcos Jr. to put in place a supplemental sugar import program by March 2023 but without indicating volume and schedule of arrival.
Confed also urged the SRA to institutionalize a sugar policy mechanism making timely demand assessments against supply trends that will trigger consultations and craft the appropriate sugar policy at any given time.
The group also urged the SRA to formally activate a stakeholders consultative assembly and set its composition and representation; the manner, schedule and venue of consultations; and the provision of pertinent and timely information for the guidance of all stakeholders.
Based on the DA’s monitoring of public markets in the National Capital Region as of Friday show the prevailing retail price range of P87 to P110 per kg for refined sugar, P83 to P95 per kg for washed sugar and P80 to P95 per kg for brown sugar.
SRA mill site monitoring also show the composite price of raw sugar as of January 15, 2023 at P3,495.76 per 50 kg bag.
