MANILA — The Sugar Regulatory Administration on Wednesday assured the public there is no supply shortage and they are working to lower the commodity's price.
"Our imported [sugar] in the market at the moment is about 116,000 tons compared to the local. The local is about 1.7 million tons. So, very big difference," SRA acting chief Pablo Luis Azcona told ANC's "Rundown".
He made the statement after the agency was called over high sugar prices despite the arrival of thousands of metric tons of imported sugar.
Azcona was appointed in April as the acting administrator and chief executive officer of the SRA.
Prior to his new post, he was an SRA board member since August last year representing sugar planters.
Former SRA administrator David John Thaddeus Alba stepped down from his post on March 24 due to his "worsening health," according to Malacañang.
Alba's resignation took effect last April 15.
Alba's resignation happened at the height of issues regarding the recent importation of 440,000 metric tons of sugar, which was supposedly allocated to 3 "handpicked" importers.