Amending Sugar Order No. 1-A, Series of 2016-2017 Re: Allocation of Sugar Production Distribution

March 20, 2017

SRA ORDER NO. 001-B, S. 2016-2017

 

WHEREAS, Executive Order No. 18, dated May 28, 1986, vested the Sugar Regulatory Administration (SRA) with the power to establish and maintain a balanced relationship between sugar production and the requirements of sugar and to maintain such marketing conditions as will ensure stabilized prices at levels reasonably profitable to the producers and fair to consumers;

WHEREAS, Sugar Order No. 1-A, Series of 2016-2017 reallocated six percent (6%) "A" or U.S. Market Sugar and ninety four percent (94%) "B" or Domestic Market;

WHEREAS, the SRA received requests from sugar producers to allocate "D" or World Market sugar and should be made available to the sugar-based food processors/manufacturers;

WHEREAS, monitoring reports showed the continuing downward trend in the withdrawals of raw and refined sugar in the domestic market and for four (4) consecutive weeks, prices of sugar continued to drop; hence, there is an imperative need to take urgent measures in order to arrest the detrimental economic effects of the imbalance between sugar production and the requirement of sugar and to stabilize the collapsing price of sugar consistent with public welfare;

WHEREAS, the estimated ending stock balances for the crop year will be higher than normal levels, due the higher than expected production coupled with weak withdrawals;

WHEREAS, allocating "D" or World Market Sugar will help ease the pressure of expected high sugar stock inventory and help stabilize the sugar situation to benefit the public; aScITE

WHEREAS, Section 4 of Sugar Order No. 1, Series of 2016-2017 provides that "The SRA shall undertake periodic assessment of the Crop Year 2016-2017 sugar production and withdrawal trend on the basis of such assessment, it may from time to time adjust the percentage distribution of the different classes of sugar as provided in this Sugar Order and/or take necessary action to address the situation;

NOW, THEREFORE, under and by virtue of the authority vested in the Sugar Regulatory Administration (SRA), the following is hereby ordered:

SECTION 1. The sugar allocation in Section 1 of Sugar Order 1-A, Series of 2016-2017 is hereby amended as follows:

 

"A"	-	6.00%
"B"	-	74.00%
"D"	-	20.00%
TOTAL	-	100.00%

 

SECTION 2. This Sugar Order shall take effect immediately covering sugar production of week ending March 19, 2017 and subsequent week endings of CY 2016-2017.

SECTION 3. Provisions of Sugar Orders, Circular Letters, rules and regulations contrary to or inconsistent with this Sugar Order are hereby revised, modified or revoked accordingly.

BY AUTHORITY OF THE SUGAR BOARD:

 

(SGD.) ANNA ROSARIO V. PANERAdministrator