Sugar millers assure stable supply despite Middle East crisis

The Philippine Sugar Millers Association (PSMA) said Friday the country's sugar supply remains more than adequate to meet both consumer and industrial demand despite the ongoing geopolitical tensions in the Middle East, which could cause farm input input costs to rise.

In a statement, the PSMA said, "the industry maintains a strong inventory position, ensuring continuity and resilience across the domestic sugar value chain."

Citing the latest supply and demand situation as of April 5 from the Sugar Regulatory Administration (SRA), the group said the current data reflects a solid build-up in physical stocks.

The PSMA said raw sugar inventories have reached 677,624 metric tons, up 9.59%, while refined sugar stocks stood at 529,573 metric tons. 

The group said the inventory levels provide a critical buffer, reinforcing supply security and mitigating potential market volatility.

"The latest SRA data validates that industry inventories are robust and well-positioned," PSMA executive director Jesus Barrera said. 

"We are operating from a position of strength, with sufficient supply to cover foreseeable demand. Our priority is to sustain this balance and ensure a stable, predictable market environment that supports both producers and end-users," said Barrera. — VDV, GMA News