The Philippines has officially returned to the US market after shipping 25,300 metric tons (MT) of raw sugar yesterday as part of the government’s measure of balancing out local supply to ensure stable profit for sugarcane planters.
The loading of the raw sugar bound for California on bulk carrier Tate J was completed just before midnight yesterday, after being delayed because of erratic weather.
The Sugar Regulatory Administration (SRA) said the shipment would arrive in the US within 22 days, well within the deadline of Sept. 30 for sugar imports under the country’s tariff-rate quota (TRQ) system.
The Philippines is one of the beneficiaries under the US’ TRQ system that allows the entry of imported commodities at a relatively lower tariff rate.
This story is from the September 04, 2024 edition of The Philippine Star.
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This story is from the September 04, 2024 edition of The Philippine Star.
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