Prices of sugar went from 40 pesos to 60 pesos per kilo this week. While an official of the sugar regulatory administration says that we have enough, the National Food Authority went ahead and allowed the grant of a contract for 100,000 tons of sugar to several bidders. According to reports, there were five who bidded for the contract and they will import sugar from Guatemala, Thailand and even Colombia.
An official of the Sugar Regulatory Administration already intimated over DZMM that several sugar importers and sugar producers are controlling the distribution of sugar. This official said that an artificial shortage is being created to justify importation and possible price hike.
His pronouncement came true. Last Friday, NFA granted the contract for 100,000 tons of sugar and this appeal to hike the SRP.
Despite this, sugar sellers still are appealing government to hike the suggested retail price for sugar. Is this fantastic or not?
There is an impending scandal on sugar which some journalists stumbled upon last week, and this involves several key men of the Aquino administration.
A group is now gathering pieces of evidence. A cartel of sugar importers and producers are trying to fool government.
President Noy should take a look into this and possibly charge those responsible for this artificial shortage of sugar. This cartel involves very close associates of the new administration.
This is as bitter as a burnt sugar.