President Marcos approves importation of more sugar

by Kristina Maralit ManilaTimes.net

PRESIDENT Ferdinand Marcos Jr. has green-lighted the importation of more sugar ahead of the expected shortage of its local production in the coming months.

According to the Presidential Communications Office (PCO), Marcos gave the Sugar Regulatory Administration (SRA) approval to procure a maximum of 150,000 metric tons (MT) of the sweetener to add to the country’s stockpile and further lower its market price.

This volume could be lower and the “exact volume will be determined” once the exact amount of sugar supply is determined “which will come at the end of this month.”

“We agreed to additional importation of sugar to stabilize the prices. The maximum amount will be 150,000 MT but probably less,” the president was quoted as saying following his meeting with SRA officials, headed by Acting

Administrator Pablo Luis Azcona and Board Member Ma. Mitzi Mangwang, representing the millers. Executive Secretary Lucas Bersamin, Presidential Legal Counsel Juan Ponce Enrile