In a joint statement released by Coca-cola Beverages Philippines Inc., ARC Refreshment Corporation, and Pepsi Cola Products Philippines Inc., they confirmed that their industry is facing a shortage of premium Refined Sugar which is a main ingredient in majority of their products.
The statement, dated August 16, was released in connection with the surging commodity prices and the rejection of President Ferdinand ‘Bongbong’ Marcos on sugar importation orders released by the Sugar Regulatory Board without his consent.
Read: DA execs resign after palace rejects 300,000 MT sugar importation order, calls it ‘illegal’
“We are working closely with other stakeholders of the industry and the government to address the situation,” reads the statement.
They also thanked their consumers for the continuous patronage.
“We thank our costumers and the public for their continued support to our products and for their understanding,” ends the statement.
It can be recalled that the SRA has raised concerns over sugar shortage in the country to which local sugar groups have opposed. They point out that there could be cheaper options to solve the sugar crisis in the country.
Read: PH’s sugar supply may run out by August – SRA
Marcos has rejected Sugar Importation Order No. 4 which aims to import 300,000 MT of sugar last week prompting the palace to investigate over the ‘illegal’ release of importation orders.
Following the importation order rejection, series of Department of Agriculture executives have resigned.
The Philippine Chamber of Commerce and Industries is backing the temporary import of sugar to mitigate rising costs.
