Expensive sugar threatens sweet-toothed Pinoys
The high price of imported sugar is threatening the P29-billion snacks industry.
Malaya Business Insight reported that Philippine Confectionery Biscuit and Snack Association (PCBSA) president William Lim has asked government to allow the confectionery industry to import sugar to meet production requirements.
Lim said sugar makes up 60 percent of their products.
“The survival of the local confectionery industry is at stake,” he said.
He said the price of domestic sugar has risen from P1,200 per 50-kilogram bag to P2,500.
Imported confectionery items are duty-free.
He said the PCBSA was amenable to sourcing part of its requirements from domestic sugar producers and part from imported sources.
The PCBSA is composed of 19 producers of candies, snacks and other confectionery products.