The Sugar Regulatory Administration (SRA) said the 41 percent increase in its proposed budget for next year will help fund research and development programs and support services for small farmers, especially for block farms, according to David Alba, SRA acting administrator.
Alba said in a statement this will in turn increase the country’s sugar productivity.
Under the proposed P5.268 trillion national budget for 2023, P1 billion was earmarked for the SRA, a significant increase from this year’s P712.2 million.
Alba said SRA will push for the allocation of the full P2 billion annual aid under the Sugar Industry Development Act (SIDA) aimed to help the sugar industry to be competitive.
But allocation for the fund has been on a steady decline as it is not being utilized efficiently.
This is because farmers fail to comply with requirements of banks for loans. The SRA said for this year, the allocation was only P500 million.
“For the sugar industry to be sustainable and attain self-sufficiency for the country, we need to double time in our efforts and any budget increase will help ensure we can meet this if we get the much-needed help for the industry,” Alba said.
