MANILA — The Sugar Board of the Sugar Regulatory Administration has authorized the importation of up to 150,000 metric tons of refined sugar to augment supply.
Sugar Order number 2, which was signed by President Ferdinand Marcos Jr., laid out the importation plan for crop year 2022-2023.
"The maximum volume covered by this order shall not exceed one hundred and fifty thousand metric tons (150,000 MT) of refined sugar," said the order released Tuesday.
Half of the sugar to be imported will be for industrial use, while the other half will be for consumers, it added.
Sugar prices soared in the recent weeks due to a supposed supply shortage.
The document stated that registered sugar traders participating in the import program must ensure that their allocation would arrive in the Philippines before Nov. 15, 2022, and shall be given a month to distribute the sugar to their clients.
Prior to this, the SRA board also issued sugar order number 1, which allocated all locally produced sugar from September 2022 to August 2023 for domestic use.
Marcos and Agriculture Undersecretary Domingo Panganiban signed both orders.
Sugar importation recently made headlines after the previous SRA board authorized the importation of 300,000 metric tons of sugar, which the Palace said lacked Marcos' approval and was illegal.
The issue prompted legislative probes and the resignation of several members of the SRA.