The Sugar Regulatory Administration (SRA) said loading of 25,300 metric tons (MT) of raw sugar intended for export to the United States is expected to be completed within the month.
Pablo Azcona, SRA administrator, said loading of sugar is being done manually and an estimated 1,500 MT is loaded every day.
Azcona said he personally inspected the loading of raw sugar at the BREDCO port in Bacolod City last Saturday.
“It will take about 15 days to load the shipment provided we have good weather and another 30 days for the cargo to reach US soil,” Azcona said, in a statement.
Azcona said Bacolod City Mayor Albee Benitez also lifted the truck ban for sugar loaded trucks en route to the port to hasten the loading of US bound sugar.
The US sugar export quota is important as the Philippines is among a handful of countries given with an annual allocation of sugar export to the US market.
The Philippines last shipped raw sugar to the US market during crop year 2020-2021 involving 112,008 MT of commercial weight.
SRA said about 30 sugar traders bought domestic sugar to stabilize farm gate prices, dropping to a low of P2,400 per bag that will be shipped to the US. In exchange, these traders are given the opportunity to import and export when needed.
These traders bought raw sugar then at an average price of P2,700 per bag and sold it at the US export price of P1,800 per bag or a loss of P900 per bag.
Azcona said that since these traders will also be given the chance to import refined sugar, the cost of money and other fees they incurred will probably give them just a little profit to recoup their expenses.
