THE Sugar Regulatory Administration (SRA) said loading of 25,300 metric tons (MT) of raw sugar bound for the United States through vessel Tate J was completed just before midnight last Monday at the BREDCO port in Bacolod City.
SRA administrator Pablo Azcona said unfavorable weather delayed the shipment originally set last month.
Azcona in a message to reporters yesterday said the shipment will arrive within 22 days.
Azcona said the shipmentwill balance out the supply of raw sugar in the country when milling starts by the end of this month.
About 30 sugar traders bought domestic sugar to stabilize farm gate prices that dropped to a low of P2,400 per bag that will be shipped to the US.
In exchange, these traders will be allowed to import and export when needed.
The US sugar export quota is deemed important as the Philippines is only among selected countries given with an annual allocation of sugar export to the US market.
The Philippines last shipped raw sugar to the US market during crop year 2020 to 2021 involving 112,008 MT of commercial weight.
Based on DA’s monitoring of public markets in the National Capital Region, prevailing retail price as of Monday ranges from P75 to P100 per kg for refined sugar, P68 to P85 per kg for washed sugar and P65 to P90 per kg for brown sugar.
SRA millsite monitoring also showed composite price of raw sugar as of May 19 when millers last operated was at P2,415 per 50 kg bag.
