Importation should be done by March or April when the estimates of production yield are known, Butch Lozande, Secretary General of the Philippine National Federation of Sugar Workers, said. READ:
since local millers are in full swing, which means there is enough supply, a group of sugar producers said Thursday.
The President earlier directed the Department of Agriculture , which he concurrently leads, to act immediately to stabilize the country’s sugar prices after a 38-percent increase in prices of the commodity last month. The DA argued that the imports would lower the prices of refined sugar, but Lozande said there could be price manipulation at play.
Inflation, which hit 8 percent in November, can be mitigated by temporarily removing the value-added tax on basic goods such as sugar and putting a price cap instead of ramping up imports, he said.The DA previously issued an order directing the agency’s Minimum Access Volume Secretariat officer in charge and Executive Director Jocelyn Salvador to “immediately convene” the MAV Advisory Council.
The agency issued this directive as the President expressed concern over the “high inflation rate” of sugar.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DA: EO 171 extension aims to cushion food inflationThe Department of Agriculture (DA) on Monday emphasized the need to balance rice imports and local production, following President Ferdinand R. Marcos Jr.’s approval of the extension of Executive O…
Read more »
Marcos tells LGUs to set up common areas for fireworks displayMANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Thursday urged local government units (LGUs) to designate a common area for fireworks display to reduce firecracker
Read more »
Marcos to LGUs: Have common areas for fireworks displayPresident Ferdinand "Bongbong" Marcos Jr. on Thursday urged local government units to create a common area for fireworks display to welcome the New Year.
Read more »
DepEd respects veto on DepEd TV provisionTHE Department of Education (DepEd) said that it respects the power of the President to veto certain provisions of the 2022 National Budget.President Ferdinand Marcos Jr. vetoed...
Read more »
Marcos hastens sugar imports, but as local farmers claim it’s peak milling timeFarmer group United Sugar Producers Federation of the Philippines (Unifed) opposed the move, noting that the import will occur at a time when milling is at its peak. READ:
Read more »
Marcos approves sugar importation to ease pricesICYMI: President Ferdinand Marcos Jr. is hastening the entry of imported refined sugar to stabilize its selling prices, a move widely opposed by sugar producers as the Philippines still has sufficient local supply.
Read more »