Local sugar supply remains stable as production improves and with overall output for the current crop year likely to increase.
Data from the Sugar Regulatory Administration showed local raw-sugar production went up 31 percent to over 407,000 metric tons as of the first week of December.
The current production is higher than the 311,000 metric tons recorded in the same period in 2019. Sugar crop year starts every September and ends in August.
Based on data on sugar production for the crop year, output in terms of 50-kilogram bags reached 8.15 million from 6.23 million a year ago.
Further, the country’s raw-sugar demand rose 19 percent. The total sugarcanes milled during the period was up 38 percent from the previous year. In terms of refined sugar, production decreased by 34 percent.
The mill-gate price of the commodity remained flat at 1,510 pesos per 50-kilo bag. Almost all sugar produced in the Philippines is consumed locally.