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

15 Innovative Approaches To Improve Your Market Study.

Most small businesses are started with inadequate market studies or with none at all.  Yet a market study is almost the only way to support your income (sales) projections and your marketing plan.  the two most important products had very low market potential. If the entrepreneur had equipped his plant before finding this out, he would have had a major problem.  The other two products had fairly high market potential, and because of the study, he knew how to market them and to whom to sell them. The following is a topical outline for a report on the market for any product being exported from one country to another.  If you can produce or buy this kind of information before you begin, you might decide to try another product or another market.  If you decide to go ahead, your chances of success will be increased considerably.  Moreover, a solid market study looks very good to potential investors and lenders. Basic Information Product name ...
Post a Comment
Read more

Luxurious gift for 25 years loyalty

SURAT : Diamond Exporter Company Owner Savji Dholakiya, promoter of Rs 6,000 crore Hari Krishna Exports, has continued with the tradition of gifting cars to the deserving employees. Dholakiya, who have given cars to 300-odd employees four years ago as bonus, gave senior three staffers a pleasant surprise by gifting them Mercedes Benz worth Rs one crore on Thursday. The car keys were handed over to them by Madhya Pradesh governor Anandiben Patel. Nilesh Jada, Mukesh Chandpara, Mahesh Chandpara who had joined the company in their early teens, look after key departments of management, cleaving and manufacturing respectively. Talking to TOI, Dholakiya said, “These three had joined us when they were just around 13 or 15 years old.  They started with learning to cut diamonds and polish it and now they are not only experts but most senior and one of the most trusted people of our company.” Dholakiya said, “I felt we must recognize their work and loyalty to the compa...
Post a Comment
Read more