Gov't to keep two-month buffer stock of sugar: Marcos
The government will maintain a two-month buffer stock of sugar to keep prices stable, President Ferdinand Marcos Jr said Sunday.
In an interview with reporters on board the plane going to Davos, Switzerland for the World Economic Forum (WEF), Marcos said: '' We will maintain from now on in sugar a two-month buffer stock so that there will not be much speculation on the price of sugar."
Based on the latest price monitoring report of the Department of Agriculture (DA), refined sugar is being sold at P90 to P110 per kilogram.
Marcos earlier ordered the DA to speed up importation of 64,050 metric tons of refined sugar to "stabilize" the price.
Marcos said he is trying to increase production of other agricultural products, such as onions.
He lamented how the country is so used to importation instead of enhancing production.
“Diyan tayo naipit eh. Nasanay tayo masyado sa import. So import lang tayo nang import, hindi natin inaayos ‘yung production side,” Marcos said.
The DA earlier announced the government will implement a "calibrated" importation of onion.
"Look at the (food) production in the Philippines and then look at the demand. (the gap) is too wide..so we are really forced to import," Marcos said.
Marcos said the government will boost its anti-smuggling thrust.
“The smuggling, ‘yun talaga… kailangan talagang i-solve ‘yun. Masyadong laganap ang smuggling dito sa Pilipinas kahit na ano ini-smuggle eh. So we have to really look into that and we have some very good ideas,” Marcos said. DMS
