Gov’t to establish 2-month buffer stock to cut sugar prices
The Department of Agriculture will establish a two-month sugar buffer stock to lower prices and avoid shortages, President Ferdinand Marcos Jr. said Tuesday.
The Department of Agriculture will establish a two-month sugar buffer stock to lower prices and avoid shortages, President Ferdinand Marcos Jr. said Tuesday.
The Bureau of Customs (BOC) seized 4,000 metric tons of refined sugar from Thailand worth PHP240 million in Batangas port on Friday.
President Ferdinand Marcos Jr. has ordered the Department of Agriculture to stabilize the country’s sugar prices after a 38 percent increase in sugar prices in November.
There is still much work to be done to address the current issues facing the country’s sugar industry, President Ferdinand Marcos Jr. said.
President Ferdinand Marcos Jr. said that much work remains to be done to fully address long-standing challenges besetting the sugar industry.
Members of the Makabayan bloc have jointly filed a measure seeking to exempt sugar, bread, and other basic commodities from the imposition of a 12% VAT amid surging prices.
Senator Risa Hontiveros wants former Executive Secretary Victor Rodriguez be held accountable for supposedly withholding details about the supposed August 4 virtual meeting with President Marcos and some concerned officials on the sugar import plan.
Two senators got into a heated argument over the findings of the Senate blue ribbon report that cleared Executive Secretary Vic Rodriguez from the sugar import mess.
Senator Risa Hontiveros believes Executive Secretary Vic Rodriguez should be held liable for the unauthorized plan to import 300,000 metric tons of sugar even if he has been cleared by the Senate Blue Ribbon Committee.
Senator Risa Hontiveros has expressed alarm at the Senate Blue Ribbon Committee report that recommended the filing of charges against suspended Agriculture Usec. Leocadio Sebastian and three former executives of the sugar board in connection with the controversial sugar import order.