Manila: The Philippines’ Department of Agriculture on Sunday said the ban on sugar importation will remain in place until December next year, extending protection for local producers amid improving supply conditions.
“Based on the current outlook for sugar production and demand, a longer import moratorium than initially suggested is necessary,” Agriculture Secretary Francisco Tiu Laurel said, Xinhua News Agency reported.
He cited stronger domestic raw sugar output and emphasised that the policy is intended to prioritise locally produced sugar while helping stabilise the market.
As chair of the Sugar Board, the policymaking body of the Sugar Regulatory Administration, Tiu Laurel said the agency will intensify monitoring of refinery operations to maintain an accurate picture of standard and premium-grade refined sugar inventories.
On December 9, the Philippine Statistics Authority (PSA) said that the Philippines’ manufacturing output increased in October, with the value of the production index (VaPI) rising 1.7 per cent year-on-year from 1.6 per cent in September.
The volume of production index (VoPI) increased by 1.4 per cent from 0.8 per cent in the previous month.
The manufacturing sector’s VaPI growth in October accelerated largely due to a sharp rise in the manufacture of computer, electronic, and optical products, which grew 16.8 per cent and accounted for 60.1 per cent of the sector’s overall uptrend.
Additional support came from a slower annual decline in chemicals and chemical products at 23.5 per cent and a rebound in wood, bamboo, cane, and rattan manufacturing at 15.1 per cent.
Of the remaining 19 industry divisions, 13 posted annual increases while six recorded declines.
The leading contributors to the year-on-year growth of the manufacturing VaPI in October were the manufacturing of computer, electronic, and optical products, food products, and basic pharmaceutical products and pharmaceutical preparations.
(IANS)
