Question & AnswerQ&A (SRA SUGAR ORDER NO. 5)
The primary purpose is to defer the arrival of imported sugar under the Countertrade Sugar Swap Program (CSSP) to help increase the millsite price of sugar, which had declined due to oversupply.
The Philippine International Trading Corporation (PITC) is the government agency responsible for importing sugar under the Countertrade Sugar Swap Program.
The arrival of some 37,037 metric tons (M.T.) of raw sugar is deferred until May or June 1987.
The deferment is triggered by the significant decline in the millsite price of sugar caused by oversupply of local and imported sugar in the domestic market.
The Sugar Regulatory Administration (SRA) retains the authority to advise PITC when to resume sugar importation under the CSSP.
The Sugar Order takes effect immediately upon adoption on November 4, 1996.
Any provisions in previous Sugar Orders, Circular Letters, or other regulations that are contrary or inconsistent with this order are amended, modified, or revoked accordingly.
The SRA issues this order under the authority vested in it by relevant laws governing the sugar industry and its regulation in the Philippines.
The expected benefit is to bring sugar prices to a level profitable to producers while remaining reasonable for consumers.
The order applies specifically to the balance of the sugar importation under the Countertrade Sugar Swap Program, not to all imported sugar.