Philippine millers have delayed a planned tender to sell 12,000 tonnes of raw sugar to Monday to give more time to buyers, a senior industry executive said on Friday. The government previously said local millers were set to sell up to 15,000 tonnes on Friday. The sugar, which is expected to be exported to other Asian countries, was for shipment at the end of March, subject to the availability of a vessel, said the industry executive, who asked not to be named.

"The tender will be held at noon on Monday," the executive told Reuters.

The planned sale would bring to 127,000 tonnes the volume of raw sugar the Philippines has sold since last August to reduce excess stocks and prevent domestic prices from sliding.

The Philippines, which sold sugar in Asia for the first time in a decade in 2004, plans to export a total of 215,000 tonnes to the region in the current crop year ending in August.

A shipment schedule submitted to the state's Sugar Regulatory Administration showed that of the total sold since August to Asian countries, 67,310 tonnes had been shipped out.

Copyright Reuters, 2005