Bacolod: Sugar production drop seen for crop year 2023-24

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Bacolod City – The Sugar Regulatory Administration has issued Sugar Order Number 1, classifying the country’s entire sugar production for crop year 2023-2024, which is estimated to drop by 10 to 15 percent, as “B” or domestic sugar.

As stated in Sugar Order No. 1 dated August 29 and released on September 11 by the SRA, the total raw sugar production for the new crop year that covers September 1, 2023 to August 31 next year, is estimated at 1.85 million metric tons (MT), with an estimated drop in production of 10 to 15 percent, depending on the severity of the anticipated El Niño phenomenon.

On the other hand, the SRA order further stated that the total domestic raw sugar withdrawal for crop year 2023-2024 is estimated at 2.20 million MT, more or less.

The order states that 100 percent of the expected 1.85 million MT shall be quedanned by the mill companies, as implementors of the Sugar Order, as “B” or Domestic Market Sugar.

It added that the SRA will undertake periodic assessments of the crop year 2023-2024 sugar production and withdrawals trend.

On the basis of such assessment, SRA may from time to time adjust the percentage allocation/distribution to other classes of sugar in accordance with its power and function and to establish domestic, export and reserve allocation, it added. (Gilbert Bayoran via tvds photo by tvds)

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