Manila: Taking a rare step to address the shortage of sugar in domestic markets, the Philippines is planning to allow industrial sugar users like beverage producers to directly import sugar, said the press secretary of the President on Friday.
Trixie Cruz-Angeles said, “President Ferdinand Marcos Jr has stated that the 150,000 tonnes of sugar importation would be allotted directly to industrial users.”
The adverse weather conditions and other factors that have affected the local production have led to the sugar shortage in the country taking inflation to a four-year high in July.
There is a shortage of bottler’s grade sugar, said the soda and fruit juice makers Coca-cola Beverages Philippines Inc KO.N, ARC Refreshments Corp, and Pepsi-Cola Products Philippines PIP.PS.
The government is also conducting raids to keep a check on the artificial shortage and allowing industrial users to directly import sugar is one of the ways to keep unscrupulous traders out of the supply chain, said Cruz-Angeles.
