Marcos rejects proposal to import 300,000 MT of sugar

President Ferdinand "Bongbong" Marcos Jr. has rejected the proposal to import 300,000 metric tons (MT) of sugar amid the rising prices of the commodity.

President Ferdinand “Bongbong” Marcos Jr. (Photo courtesy of Malacañang)

Press Secretary Trixie Cruz-Angeles confirmed the decision of the President on Wednesday, Aug. 10.

"The President rejected the proposal to import an additional 300,000 MT of sugar," Angeles said.

"He is the chairman of the Sugar Regulatory (Administration) Board and denied this in no uncertain terms," she added.

This came after reports claimed that the President has allowed the importation of additional sugar supply through an order signed by him as the SRA Board Chairperson and Agriculture Secretary.

The Press Secretary also denied the authenticity of the order, saying the signature seen atop the name of the President in the order was "not his signature."

"That's not his (Marcos) signature. The President did not sign that," Angeles told reporters.

Tight supply of the commodity and increase in demand in the country have led to soaring sugar prices, hitting more than P100 per kilo in the past week.

Amid this issue, newly-appointed board member of the SRA Aurelio Gerardo Valderrama Jr. assured the public that the sugar supply shortage and increasing prices will be resolved soon.

He said that Marcos, who serves as the Agriculture chief, "will be able to address the problem in the next two weeks."

The President, however, has yet to indicate the government's move to address the current situation.