SRA raises sugar production forecast to 2.434 million metric tons

The Sugar Regulatory Administration (SRA) has raised its estimate for sugar production this year from 2.356 million metric tons (MT) to 2.434 million MT due to good production. "With good production figures being reported by our monitoring personnel, the SRA Board deemed it appropriate to adopt at this time the higher range of the estimate," said SRA Administrator Ma. Regina Martin. As of April 14, raw sugar production was at 2.295 million MT, up 13.83 percent from 2.016 million MT in the same period in 2012. Refined sugar production increased 10.78 percent to 859,131 MT from 775,523 MT. The current crop year is expected to end in June. Also as of April 14, the demand for domestic raw sugar rose 16.20 percent year on year to 1.412 million MT from 1.215 million MT. Refined sugar demand also rose by 11.65 percent to 615,496 MT from 551,248 MT. "With healthy production figures, the SRA Board decided not to adopt any advance swapping or sugar conversion program for the remaining months of the crop year," said Martin. The Philippines will also keep its regular US sugar quota of 138,827 MT. Martin is set to leave for Washington next week to discuss the Philippines' US sugar quota. The 2013 Farm Bill, which includes its sugar program, is currently up for deliberation in the US Congress. The US will also discuss its general system of preferences, which allows Philippine raw sugar to enter the country duty-free. The GSP is set to expire on July 31.— BM, GMA News