Palace allays fears of sugar shortage

MALACAÑANG on Monday assured the public that there is adequate sugar supply in the country amid threats of a possible shortage due to the alleged “unrealistic” price ceiling set by the Department of Trade and Industry (DTI).

Deputy Presidential Spokesperson Anthony Golez said in a news briefing that Trade Secretary Peter Favila is always in touch with the sugar industry for consultations to ensure the stability of sugar supply and prices.

“What is more important right now is that Secretary Favila mentioned that we have adequate supply, and we should make sure that they are all reasonable prices,” Golez said.

He said Favila has always taken a “proactive” stance on the matter and will discuss such concerns with players in the sugar industry.

“Secretary Favila said that he is going to be in touch with the industry players so as to address those issues....We called up Secretary Favila and he mentioned that he is always in touch with the industry leaders to find out about their concern, and he would always make it a point to address these concerns and problems in a matter that is both beneficial for the government and industry,” Golez said.

Local sugar producers are asking the DTI to raise the price ceiling on sugar from P38 to P41 per kilo to reflect the current mill-gate price of raw sugar.

source: businessmirrior