BACOLOD CITY, Philippines — The composite price of sugar dropped 35 percent this week to P1,230.09 per 50 kilo-bag, prompting the Sugar Alliance of the Philippines to appeal to the public to boycott beverages with high-fructose corn syrup.
SAP spokesperson Dino Yulo yesterday said the price drop of P641.28 per 50 kilo-bag of sugar was “worrisome” and may spell huge trouble for the industry if the trend continues.
Last year, the price stood at P1,871.37. Last week, composite sugar price was pegged at P1,256.82 or about P26.73 per bag of sugar before reaching its present level this week.
During this period when milling season is nearing its end, Yulo said there is usually a spike in sugar prices. But the opposite is happening this time.
“We don’t know what’s going to happen in a few weeks’ time,” he said as he expressed concern on the price drop. “We are very much worried as to what the industry will face in the coming crop year.”
Small farmers are now saying they have nothing to spare for inputs in the next planting season.
“With enrollment ongoing, some can barely afford to send their children to school, let alone put food on the table which is a priority,” Yulo said, as he also anticipates that many small farmers will stop planting by next crop season.
Demand Affected
Sugar industry leaders claim that high-fructose corn syrup importation by beverage makers and food processors affected the demand for locally-produced sugar.
Yulo also said beverage giant Coca-Cola Philippines still has 370,000 metric tons of HFCS bought from China last year, which it is using now, instead of the locally-produced sugar.
The House Committee on Agriculture and Food chaired by Representative Jose Panganiban Jr. has set an inquiry, in aid of legislation, into the unabated importation of HFCS by beverage firms, and its impact on the sugar industry.
Bacolod City Representative Greg Gasataya, who filed a resolution seeking an inquiry on HFCS importation and use, was supported by 15 solons from sugar-producing provinces.
A similar inquiry conducted by the Senate Committees on Food and Agriculture and on Trade, Commerce, and Entrepreneurship, had earlier led to the creation of the Sugar Industry Consultative Council, with members scheduled to meet upon the resumption of Congress sessions.
Yulo urged all congressmen in the province and in other sugar-producing provinces to lend their support to the industry in the coming congressional hearing.
“We should not let up on our fight and we implore everyone to continue what we have started,” Yulo said, referring to the boycott campaign.
Despite Coca-Cola’s pronouncements that it will acknowledge the validity of Sugar Order 3 and increase its sugar consumption, Yulo said: “These were all pronouncements. Nothing has been brought to the table, thus, to this day, we continue to question their sincerity.” (FREEMAN)