The Sugar Regulatory Administration has approved the importation of 150,000 metric tons of sugar for delivery by September.
Sugar Order No.7, which was dated July 6, opens the importation program to all eligible sugar importers.
According to the SRA, imports are needed to “maintain a balanced supply and demand of sugar for domestic consumption while ensuring stable prices.”
The agency said that local sugar production is expected to fall due to the early start and early end of milling.
Under the order, all imported sugar must arrive by September 15, 2023.
The SRA earlier said the Philippines was expected to produce 2.4 million metric tons of sugar, and will be importing 440,000 metric tons under Sugar Order No. 6 and another 64,050 metric tons under the minimum access volume mechanism. But this would not be enough to meet the overall demand of 3.1 million metric tons.
Sugar prices spiked to over P100 per kilo late last year amid supply shortages, and as controversy marred an earlier order to allow sugar imports.
The spike in sugar prices was partly responsible for accelerating inflation, which reached a 14-year high of 8.7 percent in January.
Inflation has since eased to 5.4 percent in June. (ABS-CBN News)
