BACOLOD City – The Philippines is currently experiencing a surplus in sugar production, according to the Philippine Sugar Millers’ Association, Inc. (PSMA).
“The country has an abundant supply of sugar this year. Our increased production has filled our warehouses, so there is no need to import at this time” said Atty. Jesus Barrera, executive director of PSMA.
Barrera said data from the Sugar Regulatory Administration (SRA) showed that as of May 12, raw sugar production has reached 1.921 million tons, exceeding last year’s 1.799 million tons, while refined sugar production also went up to 687,823 tons from 624,389 tons last season.
Inventory levels have also risen significantly, with 26 percent increase in raw sugar and 35 percent increase in refined sugar compared to previous year’s inventory levels, totaling to 1.150 million tons raw equivalent, he added.
Part of the inventory is the 135,675 tons of imported refined sugar that were brought in last year that are still unwithdrawn and unused.
On the other hand, sugar demand has fallen this season. Withdrawals or demand of domestic raw sugar and local refined sugar have decreased by 4.23 percent and 7.20 percent, respectively, while withdrawals of imported refined sugar have risen by 16 percent.
“Even with sugar milling already closed for the season, we are confident that our current sugar inventories will last beyond the start of the next crop year which is estimated to be on October 1, 2024. However, we will continue monitoring the impact of El Niño on the supply levels in the upcoming 2024-2025 harvest,” Barrera added.
In Negros Occidental, meanwhile, the El Niño phenomenon has caused approximately P200,178,856 worth of severe damage to the sugar industry.
SRA added that the drought affected 4,705 hectares of sugar land in the province, impacting 2,392 sugar farmers./PN
