MANILA—President Ferdinand Marcos Jr. has assured the business sector that there would be “sufficient supply” of sugar in the country amid the demand for additional sugar needed to produce sweetened products.
“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 said during his meeting with food manufacturers last week.
“Hopefully, we can get some concessions with the traders so that at least the pricing will be reasonable,” he said.
Marcos earlier asked major groceries in the country to sell sugar at cheaper prices, but beverage industry players noted that the sugar used for soft drinks and juices are different from the table sugar consumed in households.
Marcos “is also eyeing direct importation by food manufacturers as part of emergency measures to address current industry concerns,” according to a press release from the Office of the Press Secretary.
“This will need the approval of the Sugar Regulatory Administration (SRA), which the President chairs,” according to the statement released on Monday.
New officials of the SRA took their oath before Marcos in Malacañang on Monday.
Earlier this month, Marcos said he expects the Philippines to import some 150,000 metric tons of sugar in October when local supply has been depleted.