The country’s raw sugar production as of September 11 doubled to 41,761 metric tons (MT) from 20,791 MT recorded a year ago, the latest data from the Sugar Regulatory Administration (SRA) showed.
SRA data indicated that the increase in raw sugar output was due to the hike in the volume of sugarcane milled and the improvement in sugar yield.
During the period, the total volume of sugarcane milled reached 533,440 MT, 92.78 percent higher than the 276,705 MT recorded a year ago, based on SRA data.
Sugar milling recovery, measured in terms of 50-kilogram bags per ton cane milled (LKg/TC), rose to 1.63 from 1.51 last year.
Despite an increase in production, SRA data showed that the country’s total raw sugar supply as of September 11 declined by 35.85 percent to 175,270 MT from 273,198 MT due to lower carry-over stocks.
Also, raw sugar demand fell by 11.1 percent to 27,839 MT from last year’s 31,315 MT.
Total raw sugar balance at millsite, which is computed as the difference between total supply and demand, was estimated at 147,431 MT, 39.05 percent lower than last year’s 241,883 MT.
SRA data showed that total physical sugar stock as of September 11 stood at 138,866.12 MT as 8,564.88 MT of the raw sugar balance at millsite were transferred to sugar refineries.
Refined sugar production during the reference period reached 12,954.80 MT, based on SRA data. There was no refined sugar output in the same period of last year as refining operations started earlier in the current crop year.
SRA data showed that total physical refined sugar stock as of September 11 stood at 138,946.85 MT of which 108,230.5 MT were imported under Sugar Order (SO) 3 during the previous crop year.
Total physical refined stock was 15.43 percent lower than last year’s 164,304 MT.
Based on SRA data the average retail price of raw sugar in Metro Manila as of September 9 reached P73.46 per kilogram while that of refined sugar stood at P96.2 per kilogram.
Last week, the SRA said retail prices of refined sugar may soon stabilize as shipments under the 150,000-MT importation program will start arriving as early as next month. (Related story: https://businessmirror.com.ph/2022/09/21/with-so2-shipment-due-sugar-prices-to-decline/)
The SRA issued SO 1, which formalized the sugar policy for crop year 2022-2023, on September 13.
Under SO 1, the SRA board allocated all raw sugar production for the current crop year for domestic use. Based on SO 1, the projected raw sugar output in the current crop year would be 1.876 million MT, relatively flat from the previous crop year’s 1.815 MMT output.