Philippines seeks to import 150,000 tonnes of sugar

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.

Tuesday, May 16, 2023 17:32

Philippines seeks to import 150,000 tonnes of sugar ảnh 1

Sacks of imported sugar, which were suspected to be hoarded from Thailand, stockpiled inside the warehouse.(Photo: philstar.com)

Hanoi, (VNA) - Philippine PresidentFerdinand Marcos Jr on May 15 approved the import of up to 150,000 tonnes of sugarto stabilise local prices due to domestic shortfall.

He said the Philippines has agreed to additionalimportation of sugar to stabilise the prices. Maximum amount will be 150,000tonnes.

The latest plan came just three months after thegovernment said it is seeking to import up to 440,000 tonnes of refined sugarto boost tight domestic supply.

Based on data from the Sugar RegulatoryAdministration (SRA), the Philippines - which usually imports sugar from itsSoutheast Asian neighbour Thailand - will have a shortfall by the end ofAugust, or at the end of the local milling season.

Accordingly, the SRA needs to import from100,000 to 150,000 tonnes of sugar to avert a shortfall./.

VNA

#Philippines #sugar #import #Vietnam #Vietnamplus #Vietnam News Agency

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