Sacks of imported sugar, which were suspected to be hoarded from Thailand, stockpiled inside the warehouse.(Photo: philstar.com) Hanoi, (VNA) - Philippine President Ferdinand Marcos Jr on May 15 approved the import of up to 150,000 tonnes of sugar to stabilise local prices due to domestic shortfall.
He said the Philippines has agreed to additional importation of sugar to stabilise the prices. Maximum amount will be 150,000 tonnes.
The latest plan came just three months after the government said it is seeking to import up to 440,000 tonnes of refined sugar to boost tight domestic supply.
Based on data from the Sugar Regulatory Administration (SRA), the Philippines - which usually imports sugar from its Southeast Asian neighbour Thailand - will have a shortfall by the end of August, or at the end of the local milling season.
Accordingly, the SRA needs to import from 100,000 to 150,000 tonnes of sugar to avert a shortfall./.
