Three federations are calling for intensified anti-smuggling operations following the plunge in mill gate sugar prices by close to P1,000 per 50-kilo bag in the last three weeks. | carlapgomezINQ /PDI
“The reasons can be attributed to a possible spike in sugar smuggling coupled with an increase in sugar inventory due to imports and peaking of milling operations,” they said.
“In this regard, we reiterate our call for intensified anti-smuggling operations even as we carefully analyze production and supply and demand forecasts so that sugar policy – particularly on imports – will not precipitate a further drop in prices,” they added. They urged stakeholders to seek ways to address production drops due to unfavorable weather and increase production costs with government support, mainly through fertilizer and fuel subsidies or other measures to help reduce production costs and improve yields.
“These are challenging times for the sugar industry and we must pursue all possible measures to meet the challenges head-on,” they said.
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