Sugar shortage artificial, says DA exec Panganiban

The shortage in the supply of sugar is only artificial, an official of the Department of Agriculture said on Monday.

According to Mariz Umali's report on "24 Oras", Agriculture Undersecretary Domingo Panganiban said there's a big chance that the price of sugar would go down if the supply illegally stored in warehouses was released to the market.

The authorities have found thousands of sacks of sugar stored in warehouses in Bulacan, Pampanga, Caloocan, Manila, Pangasinan, Batangas, and Davao.

"Artificial nga, e. 'Yung producer, nag-produce na. Nakapag-ani na sila, na-mill, pinagbili sa trader. Pagdating sa trader, ni-release ang kalahati, ang kalahati nakatago," Panganiban said.

"'Yun ang nakikita ngayon. Bakit tumagal ng dalawa, tatlong buwan? So that is definitely hoarding. Hindi nilalabas e. 'Yung mga bumibili, ayaw pagbilhan," he added.

The DA, Sugar Regulatory Administration, and Bureau of Customs are looking into what charges may be filed against those behind the artificial shortage. 

Panganiban said the sugar price may go down to as low as P60 to P65 per kilo.

Supermarkets have said that they would sell sugar at P70 per kilo after supplies were made available to them. 

A check at markets, however, showed that it still sold at over P100 per kilo. 

"Pwede sigurong bumaba ng 60 e... Isipin mo sa bulacan lang, apat na warehouses," Panganiban said.

While white sugar is available, Panganiban said there was an actual shortage of premium grade sugar for softdrinks manufacturers.  —Sundy Locus/NB, GMA News