SRA order allows export of B sugar

Sugar Regulatory Administrator Ma. Regina Bautista-Martin yesterday said she has issued Sugar Order No. 11 Series of 2010-2011 allowing the export of “B” or domestic sugar as advance-swapped to “D”, or world market sugar, as soon as possible to allow movement of production.

“We have about 2.3 million metric tons of sugar produced so far with just a handful of mills left grinding by July. We hope to export at least 100,000 MT to the world,” Martin said.

She said she expects milling for this crop year to end by the third week July.

In Sugar Order No. 11, Martin said, it is expected that there will be a significant volume of carry-over stocks of B sugar at the end of the milling season resulting in excess sugar vis-à-vis domestic demand.

“It is of national interest to place those engaged in the sugar industry in an environment of economic viability by disposing of excess sugar of Crop Year 2010-2011 as early as possible in order to stabilize the prices of “B” sugar at levels reasonably profitable to the producers and still fair to consumers,” the order said.

There is a need to ship out excess “B” sugar to the world market at the start of the crop year, it added.

Martin last week also issued Sugar Order No 10 on the shipment of advance-swapped “B” of domestic sugar to “A” or US export sugar.

The application for advance swapping is more than the requirement for the additional US quota of 60,000 MT for the current crop year, and will fill up the whole traditional quota for the crop year.

“There is a need to physically ship the advance-swapped sugar to US in order to attain the balance required for a stable and viable market environment,” Sugar Order No. 10 added.*CPG

source: visayandailystar