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The Philippines will import 200,000 metric tons of sugar to stabilize market prices

 Last Update: 2020-12-01
 Source: Internet
 Author: User

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The Philippines is scheduled to import up to 200,000 metric tons of sugar after a surge in sugar prices in the country, the Philippine newspaper World Daily reported on June 13.
Agriculture Minister Emmanuel Pinol said the agency agreed to continue imports by the private sector to control the continued rise in prices.
said Monday that "the Sugar Control Board has approved the resolution and imported sugar is expected to arrive as soon as possible."
our shortage is between 160,000 and 200,000 metric tons, so the amount of sugar imported will be within this range."
added, "Imported sugars will be classified as industrial refined sugars for bottlers and processors, as well as a specific amount of red sugar, in order to stabilize prices on the market".
The Sugar Control Agency is expected to determine the exact quantity of imports and possible national sources within the week.
is now estimating the data," Hempino said.
I've instructed them that I don't want to see abnormal sugar pricing in the market."
last time the Philippines imported sugar was in 2016, when it imported 100,000 metric tons of sugar from Thailand because of a collapse in sugar production caused by El Nino.

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