SRA sets rules on molasses importation

Traders and importers must first purchase locally produced molasses before being allowed to import molasses at a ratio established by the Sugar Regulatory Administration (SRA) as the government moves to tighten regulation of the commodity.

- By JASPER EMMANUEL ARCALAS

The SRA issued Molasses Order (MO) 2 that outlined the new molasses importation rules.

Under the guidelines, eligible participants must purchase locally produced molasses first before being given an import allocation that they can use in the future to bring in foreign supplies of the commodity.

The participants will be allowed to import one kilo of molasses for every three kilos of molasses that they bought from local producers.

The buy-local-first policy was set by the SRA following consultations with industry stakeholders and taking into consideration actual molasses stocks in the country.