Pepsi wants to sell HFCS stocks to Lucio Tan group
Pepsi-Cola Products Philippines, Inc. (PCPPI) said it wants to sell its unused high-fructose corn syrup (HFCS) to Lucio Tan-led Asian Alcohol Company (AAC), a move that will have to be approved by Sugar Regulatory Administration (SRA).
In his letter to SRA, PCPPI Vice President for Supply Chain Group Samuel Dalisay said that AAC is interested to buy PCPPI’s unusued HFCS stocks worth 9,196 metric tons (MT), thus, requested the agency to reconsider its earlier decision to have them destroyed.
“We acknowledge and willingly would abide by the March 27 2018 Memorandum issued by your good office relative to the disposal of our 9,196 MT in 418 container vans of high-fructose corn syrup, which had been reclassified into class B. In the interim, however, Asian Alcohol Company (AAC) expressed intention to purchase the said supplies,” Dalisay said.
“In this connection, we humbly request for reconsideration and instead of destroying these stocks, we may be allowed to dispose these in favor of AAC,” he added.
SRA Board Member Roland Beltran said the agency will take up the matter tomorrow during their board meeting.