SRA eyes importation of 400,000-450,000 MT of sugar for buffer stocking

The Sugar Regulatory Administration (SRA) is in the process of drafting a plan to import about 450,000 metric tons (MT) of refined sugar in response to President Ferdinand Marcos Jr.’s directive to maintain a two-month buffer stock of the commodity.

In an interview with reporters on Wednesday, SRA board member Pablo Azcona said the agency is now at “draft stage” regarding the importation plan.

“So far, we are at the draft stage. What we did is we made a draft for the importation plan. This draft [will be] sent to all stakeholders and the DA (Department of Agriculture) for comments,” Azcona said.

“So far the [planned] volume is swinging at 400,000 to 450,000 in total,” he said.

On Monday, Marcos announced that his administration will maintain a two-month buffer stock to ensure that there is no shortage of supply.

In another interview, DA spokesperson Rex Estoperez said the plan to import is in accordance with the President’s announcement “na magkaroon ng stock ng two months para naman ‘di tayo nagfa-fluctuate ang presyo (to have a stock for two months to prevent price fluctuation).”

Estoperez said the government is also finalizing the procurement as well as the disposition of the planned sugar importation.

“The President is right. It is very wise to always keep a buffer. We cannot ascertain the shipping schedules. We never know, a typhoon or shipping delay might cause supply problems,” Azcona said.

The sugar to be imported is intended both for domestic consumption and industrial use, according to the SRA official.

“The instruction of the DA, maybe from Malacañang as well… they want a volume of sugar to arrive as soon as we can… maybe in the first quarter or April depending on whether or not there will be delays in shipping,” Azcona said.

“For the industrials, there won’t be any specific volume,” he said.—AOL, GMA Integrated News