RAW SUGAR production dropped by 0.27% year-on-year as of the first week of July, the Sugar Regulatory Administration (SRA) reported, with the crop year nearing its end.

As of July 7, raw sugar output reached 2.072 million metric tons (MMT), down from the 2.078 MMT logged as of July 8 last year but higher than the 2.071-MMT target, a preliminary report from the SRA showed.

This is equivalent to 41.447 million 50-kilo bags, compared with 41.560 million bags a year earlier.

The crop year for sugar starts in September and ends in August.

Demand for raw sugar declined 18.11% to 1.777 MMT for the crop year thus far from 2.17 MMT in the same period last year.

Meanwhile, total sugarcane milled decreased 8.59% year-on-year to 21.745 MMT.

Likewise, refined sugar output also fell 11.8% year-on-year to 797,117.60 MT.

The prevailing retail price of raw sugar was at P45 per kilo, down from P55 per kilo last year. For refined sugar, the retail price was at P50 a kilo, also lower than last year’s P64 per kilo. — VMPG

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