• GILBERT P. BAYORAN
Negros Occidental Fifth District Rep. Emilio Bernardino Yulo yesterday expressed his full support to the investigation of the Sugar Regulatory Administration (SRA) on the low trading price of sugar amid efforts to maintain prices at P3,000 per 50-kilogram bag.
Yulo, a former SRA board member, said he is hoping that the SRA will release its findings at the soonest time as possible.
SRA Administrator Pablo Luis Azcona earlier said that they will focus their investigation on the mills, traders and importers to determine if there is some abnormality in their dealings.
While the SRA has been pushing for the P3,000 price of per 50-kilogram bag, prices have gone down to as low as P2,700 in the past few weeks.
“Anything below that, you will have sugarcane farms just about breaking even,” Governor Eugenio Jose Lacson earlier said.
On the designation of fishing tycoon Francisco Tiu Laurel Jr. as the new Secretary of the Department of Agriculture, Yulo said he is hoping that the new DA head will make good on his promise to protect the sugar industry.
He pointed out that the prices of sugar are 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 the alleged price manipulation and smuggling to ensure stable sugar 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. | GB
