RP sugar glut seen easing with import ban<\/p>\n
MANILA (Reuter): The Philippine sugar sector, now soaking from
\na glut due to over importation at cheaper prices, got a reprieve
\nyesterday after the government extended an import ban up to July
\nthis year.<\/p>\n
\"We have extended the sugar import ban to July, at which time
\nwe expect the glut to have eased,\" Sugar Regulatory
\nAdministration (SRA) chief Wilson Gamboa told reporters at a news
\nconference.<\/p>\n
In October last year, Gamboa asked traders and millers to stop
\nsugar imports up to March this year.<\/p>\n
The order was issued to ensure that the large stocks of sugar
\nin the country's warehouses were exhausted.<\/p>\n
Gamboa said he expected the sugar glut to be mopped up by June
\nor July this year with the import ban and after the U.S.
\ngovernment increased the country's sugar quota by 27,411 tons for
\ncrop year 1996-1997 (Sept-Aug).<\/p>\n
The U.S. government pegged the Philippines' sugar quota at
\n219,000 tons at the start of the current crop year.<\/p>\n
The Philippines is a beneficiary of a yearly U.S. sugar import
\nprogram from developing countries at premium prices.<\/p>\n
On Tuesday, the U.S. government announced an increase by
\n200,000 tons of its sugar imports in the current crop year. It
\nhad earlier set total sugar importation at 1.7 million tons.<\/p>\n
Philippine sugar millers and planters welcomed the twin
\ndevelopments.<\/p>\n
Philippine sugar millers and planters have asked the
\ngovernment to suspend the tariff discount on sugar given to
\nAssociation of South East Asian Nation (ASEAN) countries, which
\nis expected to drop from the present 65 percent to 52.5 percent.<\/p>\n
The tariff on Philippine sugar from non-ASEAN countries is
\nalso scheduled to drop from 100 percent to 80 percent by July 1
\nas part of the country's commitment to the World Trade
\nOrganization.<\/p>\n
Early this year, Agriculture Secretary Salvador Escudero had
\nasked the Tariff Commission to raise the tariff on imported sugar
\nto 133 percent from 100 percent from Jan. 1 to June 30, 1997, and
\nto 100 percent from 80 percent from July 1 to Aug. 31.<\/p>\n
The Philippine Tariff Commission has yet to act on Escudero's
\nrequest.<\/p>\n
The domestic sugar glut was due to the importation of 1.023
\nmillion tons of sugar from neighboring countries in crop year
\n1995-1996 (Sept-Aug) against production shortfalls of 500,000
\ntons, Gamboa said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/rp-sugar-glut-seen-easing-with-import-ban-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}