Yes, you read it right. The Philippines, a sugar-exporting country, will have to import 300,000 tons of sugar for the year 2011.
This will have to be undertaken to ensure sweet relations with the US, and to maintain a buffer stock, according to the trade secretary.
The 200,000 tons of the diabetogenic compound will be exported to the US while the remaining 100,000 will become its buffer stock.
The trade department did not mention where they plan to import the sugar nor did they mention the reason why there is shortage or tightness of supply of the sweetener in the country.
According to reports, the trade department's big wigs will meet on 9 December to review the measures on how to meet the demands and supply.
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