Skip to main content

Food processors push for sugar imports


MANILA, Philippines — The competitiveness of the domestic food processing industry may be threatened if the government will not allow the special importation of 100,000 metric tons of sugar following the high prices of the local commodity.
The Philippine Food Processors and Exporters Confederation (Philfoodex) is urging the the Sugar Regulatory Administration to allow the special importation of 100,000 metric tons of sugar amid soaring prices of the commodity.
In an interview with The STAR, Philfoodex president Bobby Amores said the competitiveness of the domestic food processing industry could be threatened if the government would not allow the special importation of sugar.
Philfoodex made this request even as the SRA earlier this week issued guidelines on the importation of 150,000 MT for end-users of sugar or sugar-using industries provided they are SRA-registered international sugar traders.
“The worst case scenario is that domestic processors will never be competitive anymore,” Philfoodex president Bobby Amores told The STAR on the sidelines of Agrilink 2018.
“Traders and importers will continuously import the same products containing the same ingredient of sugar from ASEAN at preferential tariff rates. If the manufacturing sector slows down, employment problems may crop up,” he said.
Amores said the industry wants a separate and exclusive importation of 100,000 MT equivalent to two million bags for the processing industry.
“The sugar industry has already made a pronouncement that sugar production will decline by five to seven percent. Then all the more reason that importation should be allowed in order to make domestic processors competitive and not to the detriment of sugar farmers,” Amores said.
Sugar prices in ASEAN neighbors particularly Thailand and Vietnam range from P25 to P28 per kilogram,.
Imported sugar from neighbouring countries is currently priced at $390 per MT which means that the landed price should be about P26 per kilo.
Labels:

Comments

Post a Comment

Popular posts from this blog

Export Pre Shipment and Post Shipment Finance in International Trade

Pre Shipment Finance is issued by a financial institution when the seller want the payment of the goods before shipment. The main objectives behind preshipment finance or pre export finance is to enable exporter to: Procure raw materials. Carry out manufacturing process. Provide a secure warehouse for goods and raw materials. Process and pack the goods. Ship the goods to the buyers. Meet other financial cost of the business. Types of Pre Shipment Finance Packing Credit Advance against Cheques/Draft etc. representing Advance Payments. Preshipment finance is extended in the following forms : Packing Credit in Indian Rupee Packing Credit in Foreign Currency (PCFC) Requirment for Getting Packing Credit This facility is provided to an exporter who satisfies the following criteria A ten digit importerexporter code number allotted by DGFT. Exporter should not be in the caution list of RBI. If the goods to be exported are not under OGL (Open General Licence), the expo...
Post a Comment
Read more

7 and a Half Very Simple Things You Can Do To Save EXPORT POST SHIPMENT FINANCE

Introduction Post Shipment Finance is a kind of loan provided by a financial institution to an exporter or seller against a shipment that has already been made. This type of export finance is granted from the date of extending the credit after shipment of the goods to the realization date of the exporter proceeds. Exporters don’t wait for the importer to deposit the funds. Basic Features The features of Post-shipment finance are: 1) Purpose of Finance : Post-shipment finance is meant to finance export sales receivable after the date of shipment of goods to the date of realization of exports proceeds. In cases of deemed exports, it is extended to finance receivable against supplies made to designated agencies. 2) Basis of Finance : Post-shipment finances is provided against evidence of shipment of goods or supplies made to the importer or seller or any other designated agency. 3) Types of Finance : Post-shipment finance can be secured or unsecured. Since the finance...
Post a Comment
Read more

Brass: Protecting the Viability of the Scrap Stream

Free-machining brasses  Brass is a metal alloy made of copper and zinc. The presence of other elements in brass such as lead is often required to improve machinability. The superior machinability of brass is ideal for producing parts that are used in a variety of applications including valves, fittings and electrical components. The most commonly used, free-machining brass is UNS alloy C36000. In some applications such as potable water systems, federal and state regulations restrict the use of lead. This may require the specification of low or lead-free brasses. Some lead-free brasses rely on elements other than lead to improve machinability and other properties such as strength, hardness and corrosion resistance. The importance of scrap  The entire economy of the brass industry is dependent on the economic recycling of surplus material, or scrap. Brass for extrusion and hot forging is normally made from a basic melt of scrap of similar composition adjuste...
Post a Comment
Read more