SRA holds new sugar purchase program to maintain supply, stabilize prices

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SRA holds new sugar purchase program to maintain supply, stabilize prices - Business Mirror

Quick Summary:

The Sugar Regulatory Administration (SRA) is undertaking another voluntary purchase program covering 500,000 metric tons (MT) of raw sugar to prop up farmgate prices of the sweetener ahead of harvest.

Meanwhile, in return for purchasing raw sugar at a premium, eligible participants would be prioritized in the government’s future import programs.

This would be done based on the raw sugar volume purchased by traders, at a ratio of 2 (locally produced raw sugar purchased): 1 (imported sugar).