Connect with us

Hi, what are you looking for?

News

Sugar industry says yields increasing, mill downtime reduced

VICTORIAS MILLING COMPANY, INC. FACEBOOK PAGE

THE Philippine Sugar Millers Association (PSMA) said the modernization of milling operations is currently ongoing, adding that the sugar recovery rate has risen to more than 81% in the last three years, from 78% in the 1990s, while fewer mills are reporting unscheduled breakdowns.

“Industry reports published by the Sugar Regulatory Administration show that sugar recovery has increased to more than 81% in the last three years from 78% in the 1990s. Downtimes due to mechanical problems have gone down significantly with the introduction of new equipment,” the PSMA said in a statement.

“Unknown to many, sugar factories have been undergoing rehabilitation and modernization to cope with the changing market environment,” it added.

PSMA Deputy Director for Programs Oscar L. Cortes said that the modernization of mills started when government-owned factories were being privatized and the sugar industry was included in the Investment Priorities Plan (IPP) in the 1990s.

“During this period, mills have invested P20 billion on new production systems and operations. The SRA keeps track of all new equipment installed by the mills. These are all properly documented,” Mr. Cortes said.

“When the modernization program started in the ’90s, there were 41 sugar mills. Most of those that did not implement upgrades have stopped operating,” he said.

Mr. Cortes added that the year a mill is established is “not indicative of the condition of the installed equipment and technical performance.”

There are currently 28 operational mills, according to the PSMA.

“Many sugar mills have also moved beyond sugar production by installing ethanol production and cogeneration facilities that amount to P61.36 billion. Most of these projects have been registered under the IPP,” it added. — Luisa Maria Jacinta C. Jocson

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

BW FILE PHOTO THE PESO continued to strengthen against the dollar on Thursday following remarks from the US Federal Reserve chief that cemented market...

News

BW FILE PHOTO SHARES closed lower on Thursday on profit taking amid hints of slower rate hikes from the US Federal Reserve and inflation...

News

DA.GOV.PH THE government wants to keep its low-cost Kadiwa food outlets in operation until February or March, when it expects food inflation to ease,...

News

NGCP.PH THE National Grid Corp. of the Philippines (NGCP) issued a yellow alert over the Luzon grid on Thursday after five power plants experienced...

News

PHILIPPINE STAR/ MIGUEL DE GUZMAN SETBACKS to the education system will require remedies which are expected to cost P25 billion a year, just to...

News

By Luisa Maria Jacinta C. Jocson, Reporter THE Philippines placed 19th out of 120 countries in the Open Budget survey, which gauges the transparency...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.