Negros Occidental 5th District Rep. Emilio “Dino” Yulo expressed his full support to the investigation of the Sugar Regulatory Administration (SRA) into the low trading price of sugar, amid efforts to maintain prices at P3,000 per 50-kilogram bag.
Yulo, who formerly served as SRA Board Member, said that he is hoping that SRA will release its findings as soon as possible.
SRA head Pablo Luis Azcona earlier said that they will focus their investigation on the mills, traders, and importers, to determine if there is abnormality in their dealings.
While SRA has been pushing for the price of P3,000 per 50 kilogram bag, it has gone down as far as P2,700 in the past few weeks.
“Anything below that, you will have sugarcane farms just about breaking even,” Gov. Eugenio Jose Lacson had said.
As to the designation of fishing tycoon Francisco Tiu Laurel Jr. as the new Department of Agriculture Secretary, Yulo said he is hoping that the new DA Head will make good his promise to protect the sugar industry.
He stressed that the price of sugar is among the economic drivers of the Negros economy.
Yulo said he is hoping to meet Laurel soon to discuss the concerns of the sugar industry.
Laurel earlier vowed to address alleged price manipulation and smuggling to ensure stable supply and prices.
He said the DA will coordinate and work closely with relevant law enforcement agencies to apprehend and prosecute those engaged in illegal trade.
(Gilbert Bayoran via The Visayan Daily Star (TVDS), photo courtesy of TVDS)
