Domestic preference for molasses expected to boost sugar industry

SUGAR PRODUCERS said the requirement that molasses users prioritize domestically produced supplies over imports will boost farmer profits and improve competition among importers.

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“We are very elated with this development. We have been asking for this from many administrations. They always favored the big alcohol distillers. It is about time they give the profits to the farmers,” Manuel R. Lamata, president of the United Sugar Producers Federation of the Philippines, told BusinessWorld via Viber, referring to an order by the Sugar Regulatory Administration (SRA).

The SRA’s Molasses Order (MO) No. 2, which took effect on Jan. 8, requires traders and importers to purchase domestically produced molasses before importing.