Philippines to import 200,000 tonnes sugar
11.06.2018 23:06 "Agro Perspectiva" (Kyiv) —
As of today, the Philippines has told it is going to import 200,000 tons sugar in order to meet domestic market sugar shortage,
Ukrainian National Association of Sugar Producers says referring to Reuters report.
As to the report, domestic market sugar shortage has caused sugar prices’ corresponding boost.
As to the report, the Philippines is not a permanent importer of sugar; it usually buys sugar from Thailand, the second largest exporter in the world after Brazil. The last time the Philippines imported sugar within 2016 (about 100,000 tons) from Thailand.
It is to be admitted, the Philippines Sugar Regulatory Administration (SRA) has approved the planned lots of the sugar import - which must be made by the country private companies to cover the domestic sugar deficit (160,000- 200,000 tons).
It is to be admitted, this year the Philippines domestic sugar demand has grown as sugar beverage producers have boosted sugar purchases to avoid higher taxes on imported high-fructose syrup (HFCS), an alternative sweetener. Earlier, sugar beverage producers had been purchasing about 250,000 tons of local sugar yearly before they switched to cheaper HFCS within 2011.