MANILA, Philippines — The country’s sugar industry has already lost P7.28 billion due to overimportation — and may even lose up to P20 billion by June 2026 if the situation is not addressed, Negros Occidental Rep. Javi Benitez warned. Benitez in his privilege speech on Wednesday said that Negros sugar industry players recommended the the Sugar Regulatory Administration (SRA) the importation of 150,000 metric tons (MT) of sugar, but the agency brought in 424,000 MT — leading to oversupply. This oversupply, Benitez said, had pushed the price of cane and molasses down by 38 percent and 56 percent, respectively. “The Negros […]... Keep on reading: Solon: Sugar sector lost P7B, more seen if overimportations go unchecked