MANILA — President Ferdinand Marcos, Jr. is looking into the possibility of directly importing sugar through industry players to address supply problems in the country, a Palace release showed Tuesday.
The proposal for direct importation happened during Marcos' consultation with food manufacturers in Malacañang on Monday, a statement from the Presidential News Desk read.
Direct importation is when a firm directly buys a product from a supplier overseas.
“Hopefully, we can get some concessions with the traders so that at least the pricing will be reasonable. The concern is the supply right now. I’ll make sure that there is sufficient supply in the country so that you can operate at full capacity,” Marcos was quoted as saying.
“It has become a worrisome problem. We are doing all of these things to protect the jobs of workers in those industries,” the President said.
Prices of white sugar reached over P100 in wet markets recently as the country grapples with tight supply.
Marcos, who rejected proposals to import 300,000 metric tons of sugar, said it was important to keep in mind the local sugar producers in the country, who may be affected by sugar imports.
In his weekly vlog over the weekend though he said the country might import only half of what was proposed or 150,000 metric tons in October to keep sugar prices stead.
Last week, Press Secretary Trixie Cruz-Angeles described sugar importation as a "balancing act" that puts premium the welfare of consumers without killing the local industry.