President Ferdinand 'Bongbong' Marcos Jr. has signed Sugar Order No. 2 which prompts the importation of sugar not exceeding 150,000 metric tons (MT) in order to address the shortage of supply and to further curb the rising prices of sugar in the country.

In a copy of order posted on the website of Sugar Regulatory Administration (SRA), the President, who also sits as the Agriculture Secretary, approved the allocation of 75,000 MT to industrial users or companies using sugar in their manufacturing process.

The other 75,000 will be for consumers.

Malacañang on Wednesday also confirmed the issuance of SO 2.

SO 2 mandates that sugar traders participating in the import program shall ensure that their respective allocated volumes shall arrive in the Philippines not later than November 15, 2022.

Each participant shall be given one month from November 15 to completely distribute their allocations to respective clients for industrial use and/or direct consumption and and submit to SRA within 30 calendar days written proof of compliance to the said actual distribution.

SRA said that it would start accepting applications for the importation of sugar three days after the effectiveness of the order.