Sugar output down 30.75% in early Nov
Credit to Author: Eireene Jairee Gomez| Date: Thu, 28 Nov 2019 16:37:43 +0000
THE country’s production of raw sugar decreased by 30.75 percent to 142,674 metric tons (MT) as of early November from 206,017 MT a year ago, according to the Sugar Regulatory Administration (SRA).
In its latest supply-and-demand situation report, SRA said the total output in terms of 50-kilogram bags reached 2.853 million, down from last year’s 4.120 million.
As of November 3, demand decrease by 21.20 percent to 190,665 MT versus 241,972 MT in 2018.
The country’s production of refined sugar reached 49,242 MT, a 43.95-percent decline from 87,858 MT a year earlier.
In terms of 50-kilogram bags, output of such sugar hit 984,859 MT, compared to 1.757 million MT last year.
Refined sugar demand went down by 23.76 percent to 170,884 MT from 224,130 MT a year ago.
Total sugarcane milled hit 1.732 million MT, down 27.08 percent from 2.375 million MT in 2018.
During the period, the wholesale price of raw and refined sugar was at P1,700 per 50-kilo bag, compared to last year’s P1,780. Refined sugar, on the other hand, remained at P2,300 per 50-kilo bag year-on-year.
Retail prices averaged P45 to P50 per kilo as of October 3.
For the current crop year, the country’s raw sugar production is expected to decrease by 4.5 percent because of decrease in the production area and would still fall short in filling in total national requirement, according to the United States Department of Agriculture (USDA).
In its Sugar Order 1 dated Sept. 4, 2019, SRA said Philippine sugar production was seen reaching 2.096 million MT for CY 2019-2020, which begins September this year until end of August 2020.