The Sugar Board will endorse a government sugar buying program and issue an order to regulate the entry of artificial sugar, Sugar Regulatory Administrator Pablo Luis Azcona confirmed on Wednesday, March 4.
The moves are geared towards addressing the low millgate sugar prices that dropped further last week after a Congressional hearing held to address the concerns of the industry.
Prices dropped by P150 to 250 per 50 LKg bag, and no bidders were reported in some mills last week.
On the sidelines of a meeting at the House of Representatives on Wednesday, Azcona met with Confederation of Sugar Producers Associations Inc. (CONFED) President Aurelio Valderrama, Jr. and National Congress of Unions in the Sugar Industry of the Philippines (NACUSIP) President Roland de la Cruz.
Azcona agreed to endorse a government-buying program being pushed by both CONFED and NACUSIP, Valderrama said.
“The key to any challenging situation is to keep talking to each other. The sugar industry belongs to all of us. We must always be willing to collaborate,” Valderrama said.
The Sugar Board will endorse the call for government sugar buying to the Department of Agriculture because it will be good for the planters, Azcona said.
He said they will discuss the details of the proposed government buying with the sugar industry groups.
The Sugar Board is also drafting an order to regulate the entry of artificial sweeteners, Azcona added.*
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