The Department of Agriculture (DA) has yet to approve the Sugar Regulatory Administration's (SRA) draft import plan for 450,000 metric tons of sugar for buffer stock, the SRA stated on Tuesday.
During the Laging Handa press briefing, SRA board member and planters' representative Pablo Luis Azcona said that they had taken into account the input of sugar growers and other stakeholders in the finalization of their draft import plan.
To stabilize market prices, Azcona stated that the SRA will think about releasing some imported sugar after it arrives in the nation.
Moreover, it claimed that one of the key elements influencing sugar retail pricing is the speculation of some dealers.
A draft for a special allocation of sugar importation to the industrial sector was also submitted by the SRA.
Meanwhile, the SRA has previously stated that imports would only be made in order to maintain buffer stocks and prevent excessive price increases, but with careful consideration given to the timing and magnitude of the imports as the government works to support farmers in increasing domestic production.
It stated that as part of its long-term strategy, it will work with the Department of Agrarian Reform to promote the block farming method.
In addition to block cropping, the SRA is contemplating pushing back the start of the milling season until October.
According to the SRA, a postponement of the start of the milling season would result in a five to ten percent rise in sugar output.
