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PCCI asks gov't to ensure stable, cheaper sugar prices

Published Apr 16, 2023 11:09 am
The Philippine Chamber of Commerce and Industry (PCCI) is requesting the government to allocate a portion of the limited sugar importation for the domestic food and processing industry, stating the high cost of sugar in the country could trigger another spike in inflation due to higher prices in food and other basic commodities. In a letter, PCCI President George T. Barcelon has sought for a meeting with Sabin Aboitiz, strategic convenor, Private Sector Advisory Council (PSAC), to discuss the high cost of sugar, which put the domestic food manufacturing and processing industry at a disadvantage. “We are calling on our government to assure our food manufacturing industry that there is enough and sufficient supply of sugar at reasonable cost to be competitive with our neighbors in ASEAN,” said Barcelon adding that sugar is an important component in food manufacturing and processing. He said that the industry requests an allocation exclusively as input in food production so that  local food manufacturers can compete with our ASEAN counterparts selling various food items. The prevailing world market price of sugar ranges only from P32.00 to P35.00 a kilo, but local prices range from P85.00 to P115.00 per kilo. “Government is cognizant of shortages from local sugar millers and thus allowed limited importation. The lower cost of sugar will help mitigate inflation when enough quantities are allocated for local food and beverage sectors. The employment and economic activities are crucial for our country and her citizens," he stressed. The PCCI, through its Agriculture and Fishery Committee, has been advocating with the government to allow small food processors and manufacturers to import refined sugar at 10,000 bags of 50 kilos per bag monthly since 2015 but this has never been granted.

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Philippine Chamber of Commerce and Industry – National Capital Region (PCCI-NCR) PCCI President George T. Barcelon sugar
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