The Department of Trade and Industry(DTI) has recommended that manufacturers of food and beverage be able to import sugar for their own use provided this is done on a one-for-one basis.
DTI Secretary Alfredo Pascual told Teleradyo on Wednesday the agency is helping the manufacturers explain their supply needs to authorities, but the final say on importation rests on the Sugar Regulatory Administration.
“Our recommendation is for food and beverage manufacturing companies using sugar be given achance to import on their own one for one — one unit imported, one purchased from local sources,” he said.
Pascual said a task force is reviewing the sugar situation in the country following reports that supply is being hoarded that recently led to a series of inspections of warehouses.
He explained DTI is helping monitor prices of sugar given the agency’s experience in doing so for basic and prime commodities.
“We also monitor supermarkets that agreed to sell sugar at P70 while supply lasts,” Pascual said.
Meanwhile, Pascual said DTI is reviewing a proposal of bakers to increase the prices of PinoyTasty and Pandesal.
“We follow a formula… if there is justification. We have done that in the last SRP (suggested retail price) bulletin on 65 of 280 SKUs (stock keeping units),” he said.
Pascual said the DTI has urged manufacturers to study their pricing and balance their earnings, where they earn more from premium products than from basic necessities being bought by themasses.
“In effect, cross subsidies, where pricing is based on direct variable cost,” Pascual said.
