PHL to ship 100,000 MT sugar to global market

The Sugar Regulatory Administration (SRA) on Thursday bared plans to export at least 100,000 metric tons (MT) of sugar to the world market before the crop year ends next August 31. “That is our volume for the moment or until we draft the export guidelines. There is no deadline for sugar exportation to the world market," SRA administrator Ma. Regina Martin said in an interview. On Thursday, the Sugar Board met to discuss the guidelines on the proposed shipment. “We’re trying to finalize the guidelines as soon as possible," added Philippine Sugar Millers Association Inc. executive director Archimedes Amarra, who also serves as a private-sector representative to the board. The sugar allotted to the world market excludes the traditional US quota volume of 142,160 MT and the additional raw sugar volume of 60,000 MT as approved by the US government in April. The SRA said the Philippines intends to export excess sugar to its Asian neighbors. In March, the SRA also said the country is “fast-tracking" the processing and shipping of sugar exports to the US to keep up with the economic giant’s higher demand. The Department of Agriculture increased sugar quotas by 60,000 MT raw value in April because of a shortage brought about by the hard freeze in Florida. — PE/VS, GMA