SRA releases sugar allocation for CY 2012-2013-A A +A
Friday, August 31, 2012
FOR incoming Crop Year 2012-2013 which officially starts September 1, 82 percent of sugar production will be allocated for the domestic market (B Sugar), 10 percent will be earmarked for the US market (A Sugar) and the remaining eight percent will be exported to the world market (D Sugar).
Thus stated Sugar Order No. 1, Series of 2012-2013 signed by Sugar Regulatory Administrator Ma. Regina B. Martin Thursday.
The Sugar Board came up with such an allocation premised on an initial estimated raw sugar production of 2.356 million metric tons, representing a five percent increase from last year’s 2.243 million MT output.
With such allocation, the country will be able to meet the regular US quota of 138,827 metric tons, a buffer stock for possible additional US quota of around 61,993 MT, 2.03 MMT domestic demand, including buffer stocks, and around 247,000 MT for the world market, a press release from SRA stated Thursday.
Estimated ending balance for Crop year 2011-2012 is 30,144 MT for “A” or U.S quota sugar, 143,661 MT for “B” or Domestic sugar and 58,793 MT for “D” or world market sugar. Ending balance for refined sugar is 199,924 MT which will end up to the raw sugar balance of 143,661 MT for the domestic buffer stocks, the release further stated.
According to SRA, the country has shipped out 326,379 MT to the world market and 200,561 MT to the US as quota for this crop year.
Moreover, SRA assured that the initial estimate for the 2012-2013 campaign may be revised, as soon as SRA generates an updated crop estimate which may be influenced by weather patterns in the coming months.(Butch S. Bacaoco)
Published in the Sun.Star Bacolod newspaper on August 31, 2012.