Philippine millers sold on Monday 12,000 tonnes of raw sugar for export, the head of the main industry body said. Jose Maria Zabaleta, executive director of the Philippine Sugar Millers Association, told Reuters the sugar was sold at 545 pesos per 50 kg bag for shipment by March 31. 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.

Copyright Reuters, 2005