Damage to sugarcane production due to Kanlaon’s eruption will not affect sugar prices, Agriculture Secretary Francisco Tiu Laurel said.
This pronouncement was made after the Sugar Regulatory Administration (SRA) reported an initial production volume loss of 10,000 to 15,000 metric tons (MT).
“The damage in Kanlaon is actually very minimal and it should not affect the [market],” Tiu Laurel said.
“It’s also harvest season right now, it’s milling season right now, so I don’t see any issues on sugar,” he added.
The Agriculture chief also said that the country had reserve sugar stocks that the government was slowly releasing to stabilize the market.
With regard to investigations into why sugar millgate prices were dropping while retail prices remained the same, he said the sugar industry was suffering from the effects of severe climate conditions.
However, he also said that artificial sweeteners are also partly to blame.
“If you look at artificial sweeteners, the importation of fructose, sucrose and the like rose by almost 25 percent,” Tiu Laurel noted.
He said the DA was looking to monitor and regulate such imports.
“The order should have been implemented already, but our softdrinks and beverage manufacturers complained,” Tiu Laurel said.
Be the first to comment