Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

Sugar import plans frozen until mid-2025

by
November 10, 2024
in Top News
0
Sugar import plans frozen until mid-2025
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter
BOC – PUBLIC INFORMATION AND ASSISTANCE DIVISION (BOC-PIAD)

THE Department of Agriculture said that it will postpone sugar imports until the middle of 2025, noting that domestic supply is expected to be stable.

“Given the current situation… a decision on sugar imports can be delayed until after May, when the current harvest season ends,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. said in a statement on Sunday.

He ruled out additional imports of refined sugar, saying stocks of raw and refined sugar remain adequate.

According to the Sugar Regulatory Administration (SRA), raw sugar stocks hit 216,641 metric tons (MT), while those of refined sugar amounted to 513,393 MT as of Oct. 13.

“We are just beginning our harvest season, so Secretary Laurel and I agree to delay the decision on sugar imports until after harvest sometime in May,” SRA Administrator Pablo Luis S. Azcona said.

The regulator had earlier allowed imports of 240,000 MT of refined sugar aimed at plugging supply gaps before the start of the current harvest.

He added that the current harvest started slowly, with total cane volume equivalent to a third of year-earlier volume.

“Farmers had to delay their harvests to allow the cane to mature further and increase sugar content,” Mr. Azcona said.

The SRA said prolonged dry spells due to El Niño caused the cane to be “physiologically immature,” resulting in a 16% lower sugar content per MT of sugarcane.

The US Department of Agriculture said Philippine raw sugar production is expected to decline 3.6% to 1.85 million metric tons (MMT) during the 2024-2025 crop year.

The SRA projects a 7.2% drop in sugar production from the 1.92 MMT reported during the previous crop year, citing crop damage sustained during the dry conditions brought about by El Niño.

The SRA said sugar production remained constrained by the weather phenomenon despite an increase in the land area planted to sugar to 389,461 hectares from 388,378 hectares in the previous crop year. — Adrian H. Halili

ShareTweetPin

Related Posts

Have a taste of the perfect day in paradise with SULÀ Spirits
Top News

Have a taste of the perfect day in paradise with SULÀ Spirits

January 8, 2025
First months of 2025 likely rainy amid La Niña conditions, says PAGASA
Top News

First months of 2025 likely rainy amid La Niña conditions, says PAGASA

January 8, 2025
December inflation rises to 2.9%
Top News

December inflation rises to 2.9%

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
PHL end-December dollar reserves drop to $106.8B
Top News

PHL end-December dollar reserves drop to $106.8B

January 7, 2025
Next Post
Why Trump, a liar, seems honest to his supporters

Why Trump, a liar, seems honest to his supporters

Recommended

Do You Know the Benefits of Web Application Development Services for Businesses?

Do You Know the Benefits of Web Application Development Services for Businesses?

November 13, 2024
Exploring the Curry Craze: The Rise of British Indian Restaurants in 2024, from Corner Curry Shops to the Elite Top 100 List

Exploring the Curry Craze: The Rise of British Indian Restaurants in 2024, from Corner Curry Shops to the Elite Top 100 List

December 30, 2024
AstraZeneca’s £450 million vaccine plant at risk as government reconsiders financial backing

AstraZeneca’s £450 million vaccine plant at risk as government reconsiders financial backing

August 15, 2024
Stock Market News UK Update: FTSE 100 & 250 Rise

Stock Market News UK Update: FTSE 100 & 250 Rise

April 7, 2025
Pound reaches two-year high as Bank of England holds interest rates steady

Pound reaches two-year high as Bank of England holds interest rates steady

September 20, 2024
Residential sales lift Filinvest Land’s profit by 11%

Residential sales lift Filinvest Land’s profit by 11%

August 13, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Terms & Conditions
    • Thank you

    Copyright © 2024 investdailypro.com | All Rights Reserved