Sugar production already 92% of crop year target

Sugar production to date is already 92 percent of the total production target for the current year, according to a report from the Sugar Regulatory Administration (SRA) Thursday. Sugar production is at 2.167 million metric tons (MT) as of March 31, only 189 MT short of the 2.356-million MT goal for the crop year ending August. Because of early sugarcane planting, the sugar milling season is expected to end early, probably by May or June, with most of the sugar mills ceasing operations by April. The domestic sugar production goal for crop year 2012-2013, 2.356 million MT, is five percent higher than the 2.243 million MT of sugar actually produced in the previous crop year. Domestic demand for sugar this year is placed at 2.03 million MT, while the requirement for the world market is placed at 247,000 MT. The country is keeping its regular US sugar quota of 138,827 MT. — BM, GMA News