Go Negosyo founder Joey Concepcion commended President Ferdinand "Bongbong" Marcos Jr. for considering importing sugar only if the country's current stock would be insufficient by October this year.
Concepcion said this following the foiled illegal importation bid of 300,000 metric tons of Sugar by the Sugar Regulatory Administration last week.
In a statement, the former Duterte administration adviser said Marcos was right in his decision to limit the importation of sugar to protect farmers and consumers.
"President Marcos is correct in his plan to import only a limited amount of sugar and only if the local supply has been exhausted because this will protect the consumer and the farmer," he said Monday, August 15.
Concepcion was referring to Marcos' recent vlog where he said that he would consider importing sugar only if current stock from local production and previous importations will be insufficient come October. He added that the quantity would be only as much as 150,000 metric tons, or half of the amount put forward by the Sugar Regulatory Administration.
"The President's approach will protect both the consumer and the farmer," he said.
"Sugar is now P5,200 to P5,500 per sack, and I have no doubt that at this level, consumers are going to be affected," he added.
"But a calibrated importation of 100,000 to 150,000 metric tons – as the President is planning – will allow us to see if price levels will start to go down, and doing this at a gradual level will let us adjust as harvest season approaches, then adjust it again as production comes into full swing," he continued.
Concepcion said Marcos' plan would prevent "excessive swings in prices."
"The importation plan that the President has directed is correct and can help us achieve a more inclusive economy. It will allow our small farmers to make a living," he said.
In his vlog post, the President vowed against excessive importation, especially if there is adequate supply, but said it might be necessary to keep goods affordable for consumers. He said the importation strategy would apply to rice, seedlings, and animal feeds.
Marcos added that in meetings with different agriculture industry sectors, he discussed several issues that affect food supply, including climate change and the rising cost of agricultural inputs.
He also emphasized the importance of cooperation between the private sector and the government in the sector.
"The DA (Department of Agriculture) is one of the most challenging jobs in government," Concepcion said.
According to the Go Negosyo founder, the private sector has already started to make recommendations in its planned Kapatid Angat Lahat Program, which aims to create linkages between big businesses and micro, small, and medium enterprises (MSMEs) to achieve inclusive growth for the Philippines.
Among the recommendations are rebuilding the agriculture value chain to make farming more viable as a livelihood, more use of data and science in agriculture, especially in weather planning and soil analysis, addressing outdated policies and structural issues, and letting small farmers benefit from the scale, technology and best practices of big agricultural companies.
"Agriculture is key to the growth of the Philippines," Concepcion said.
"With the private sector's participation, a healthy agriculture industry will enable the country to handle future food supply crises better," he added.