BACOLOD City – Even as the 2023-2024 milling season begins, a decline in local sugar production is projected due to the El Niño phenomenon.
The Sugar Regulatory Administration (SRA) forecasted a decrease of more than 10 to 15 percent, depending on the severity of the dry spell.
It added that all production will be considered “B” sugar intended for local consumption.
Per the SRA classification, “A” sugar is for the US quota, “B” for domestic consumption, “C” for reserve, and “D” for the world market.
Based on Sugar Order No. 1 signed by SRA Administrator Pablo Luis Azcona, sugar production for this crop year is expected to be 1.85 million metric tons.
SRA shall undertake periodic assessments of the crop year 2023–2024 sugar production and withdrawal trends.
Based on such an assessment, the SRA may, from time to time, adjust the percentage allocation or distribution to other classes of sugar in accordance with its power and function and establish domestic, export, and reserve allocations.
All sugar will be placed under quedan (a commodity warrant) to ensure it will be used in the local market. (Watchmen Daily Journal)
