Imported sugar will lower retail prices by 84 percent with 440,000 MT.

This may be the answer to lowering the price of sugar. The Sugar Regulatory Administration (SRA) anticipates that the importation of 440,000 metric tons of refined sugar will result in an 85 percent decrease in the suggested retail price for the product in the market.

However, Pablo Luis Azcona, a board member and the SRA's Planters representative, pledged that measures would be taken to prevent harm to local farmers from the release of imported sugar once it arrived in the nation.

The SRA has already given its approval for the importation of the 440,000 metric tons of refined sugar, of which 240,000 metric tons will serve as buffer stock.

When the imported sugar would arrive is not yet known.

Since the nation already has enough raw sugar produced by domestic farmers, Azcona claimed that only refined sugar would be imported.

“The importation of sugar is aimed lowering the consumer price, at the same time, making sure that our farmers would get a fair price so they can continue planting and hopefully expand their farms to make our country self-sufficient on sugar,” said Azcona.