date:Jun 11, 2014
The Philippines has reduced its sugar stocks for exports by 90,000 tonnes, or a third of the allocation for world markets for the 2013/14 crop year, to boost domestic supply and arrest further local price increases, the industry regulator said. The move is not expected to have an impact on an over supplied global market and the country's export commitment to the United States. But it could help ease rising food inflation that has become a concern for the Southeast Asian nation's central bank.