MANILA, Philippines - The country plans to auction by the middle of next week the rights to import 150,000 tonnes of tariff-free sugar to build up the country's buffer stock, the head of the Sugar Regulatory Administration (SRA) said on Tuesday.
Importers were likely to buy raw and refined sugar from Brazil, for delivery in September, Bernardo Trebol told Reuters.
The Philippines expects milling of locally produced sugar to be delayed by about a month after crop growth was stunted by a drought.
Trebol said sugar production in the crop year starting September may be flat or slightly higher than the estimated 1.97 million tons in the current year.
