Guv agrees sugar conversion for domestic price-A A +A
Saturday, May 24, 2014
NEGROS Occidental Governor Alfredo Marañon Jr. said he agrees on the conversion of some “D” sugar intended for the World Market to “B” or domestic sugar to address the shortage and stabilize the price of sugar in the Philippines.
Marañon said there is enough “D” sugar in warehouses and that the converted sugar should be replaced later.
It would be good for the producers and the consumers as well, he said.
The price of sugar was monitored to have jacked up amid a delay in production.
Sugar Regulatory Administration (SRA) chief Ma. Regina Bautista-Martin said mill gate prices have increased in recent weeks despite the government’s move to allocate more sugar for the domestic market.
Martin said he has informed President Benigno S. Aquino III that the SRA is converting the country’s outstanding stock of "D" or World Market sugar into “B” or domestic sugar to arrest further sugar price increases and provide sugar buffer stocks at the end of the crop year.
Martin said the Sugar Board, upon assessment of the supply-demand scenario supported by the recommendations of industry organizations, and in consultation with the major stakeholders of the industry, came up with the decision to convert “D” sugar to “B.”
Published in the Sun.Star Bacolod newspaper on May 24, 2014.