Philippines seeks to import 150,000 tonnes of sugar
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./.