PHL has enough sugar to cover Christmas demand, govt says

The Philippines has enough sugar to cover the surge in demand this coming Christmas, the Sugar Regulatory Administration (SRA) said Tuesday. “With milling expected to be in full gear by November, it is expected that local production will meet the surge in domestic demand for the coming Christmas and summer seasons," SRA administrator Regina Martin said. The Philippines has pegged its domestic stock at 330,000 metric tons (MT) with raw sugar at 200,000 MT and refined white at 130,000 MT. “These stocks will be enough to cover the demand for the months of October and November, plus a desirable level of buffer stocks," Martin said. Sugar withdrawals and shipments of Philippine export sugar remain on track, the SRA added. The country shipped a combined volume of 180,000 MT to the United States, Japan, Indonesia, China, Korea, Vietnam, and Taiwan. The agency said it expects to export 600,000 MT to the US and the world market between 2011 and 2012. “With increasing demand from developing countries, especially with the growing middle-class in most cities, the prospects for increasing sugar demand in the next five years should be an incentive to the Philippines to continue production at a modest surplus," Martin said. Philippine sugar output is expected to reach 2.4 million MT in crop year 2011-2012, slightly higher than the 2.357-million MT output in crop year 2010-2011, according to government data. — PE/VS, GMA News