Following the instruction of President Marcos to bring down retail prices of sugar, the Sugar Regulatory Administration has proposed to import 450, 000 metric tons of sugar this year. SRA is finalizing the import plan.
A two-month buffer stock of the sweetener is maintained to prevent prices from fluctuating in the market.
The imported sugar should arrive as soon as possible to reduce retail prices immediately.
The sugar industry, however, urged SRA to provide protection to ensure that the volume and arrival of the stock will be calibrated to not depress domestic millgate prices.
