MANILA: The Philippines has slashed its sugar allocation for the US and other countries due to the expected decline in production, the Sugar Regulatory Administration (SRA) said.SRA administrator Hermenegildo Serafica said 93 percent of sugar production would be for the domestic market, six percent for the US market, and the remaining one percent for the world market. During the start of the crop year last September 2017, the SRA originally allocated 80 percent for domestic, and 10 percent each for the US and world markets.The SRA classifies sugar into “A” for sugar for export to the US, “B” for domestic consumption, “C” for reserves, “D” for export to countries other than the US, “E” for local food processors and “F” for ethanol producers. Due to unfavorable weather conditions, the total raw sugar production for the current crop year is now estimated to be less than the initial projection of 2.38 million metric tons,” Serafica said. SRA expects domestic demand to reach 2.17 million MT for the current crop year which ends in August. According to SRA, the domestic sugar market remains as the priority for locally produced sugar to maintain a comfortable buffer or carry-over volume of domestic sugar during the end of season and for the start of the crop year for stable supply and prices.
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