Updated:2025-01-25 05:20 Views:146
Sugar Regulatory Administration (SRA) | FILE PHOTO
MANILA, Philippines—The Sugar Regulatory Administration (SRA) may issue an order this month governing the second voluntary purchase of locally produced raw sugar in exchange for a guaranteed spot in the government’s importation programs.
In the draft order, the SRA is allowing eligible traders to acquire 300,000 metric tons (MT) of local raw sugar to secure import allocations in the future.
real money slots Article continues after this advertisementSRA administrator Pablo Luis Azcona said the volume, similar to the first voluntary purchase program, has yet to be finalized.
FEATURED STORIES BUSINESS BIZ BUZZ: Another deputy governor set to exit BSP BUSINESS Starbucks' policy change flushes out debate over public restroom access BUSINESS John Hay Golf Club disputes BCDA’s ‘sabotage’ claim during takeoverThe SRA introduced this program in crop year 2023-2024 to support local farmers by encouraging conscientious sugar traders to buy their produce at premium prices while ensuring stable farmgate prices.
As of Jan. 5, sugar prices reached P2,601.52 per 50-kilogram bag, rising by 7.99 percent from P2,408.97 per 50-LKg in the same period in 2024,
Article continues after this advertisementaccording to the latest SRA data.
Article continues after this advertisementAzcona said last month the SRA was studying the previous voluntary purchase program to improve it and level the playing field for all industry stakeholders.
“Considering that shopping is the second biggest expense of any tourist worldwide, we are getting this benefit now to develop the retail industry, improve the sales performance by retailers, and at the same time improve the tourism industry,” Philippine Retailers Association president Roberto Claudio said during the 2024 Outstanding Filipino Retailers Awards on Wednesday.
Article continues after this advertisement“[We will] make sure that the programs can be participated in by anybody, as in technically anybody, just as long as they possess a domestic trading license,” he told reporters.
For the latest round, this will be open to farmers, farmer’s groups, farmer’s cooperative, farmer’s association, sugar millers/refiners, manufacturers and beverage makers, among others.
Article continues after this advertisementThe 300,000 MT of local raw sugar under the planned program will be limited to the planters’ share covered by quedans for crop year 2024-2025.
As defined by the draft order, quedan is a primary trading document that specifies the ownership of volume of sugar in warehouse or sugar central.
Interested parties should be licensed SRA domestic or international sugar trader in good standing, have no pending case with the SRA and pay their registration or license fees.
Aside from submitting the reportorial requirements, they should be legally allowed by the SPA to engage in sugar trading.
Based on the proposed order, participating in this program will be on a first-come, first-served basis, subject to the completion of documentary requirements and quedans to be reclassified have been surrendered.
Those who join this undertaking will be prioritized by the SRA in future government programs for importing sugar, depending on the volume of local raw sugar bought at a ratio of 2:1 (locally produced raw sugar purchased: imported sugar).
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The SRA has the discretion to temporarily or permanently stop the further implementation of the voluntary limited purchase program at any time upon the issuance of a notice effective the next Monday after the date of issuance of the same notice.super game
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