Favila says government to import basic commodities if necessary

Trade and Industry Secretary Peter B. Favila reiterated yesterday his warning that the government would resort to importation of basic commodities and products if there is any manipulation or hoarding of such products.

Thus, in response to complaints about the increasing prices of sugar which is now ranging from P37 up to P40 per kilo, government has approved and is now awaiting the arrival of about 50,000 metric tons of imported sugar.

On the other hand, on complaints about increasing cement prices which now range between P157 to P168 per 40 kg. bags, Favila assured that there is still no need to import cement.

Trade Undersecretary for Consumer Welfare Zenaida Maglaya elaborated that the importation of sugar is intended to help bring down the price of sugar to P34 per kilo from the current P37 to P40 per kilo.

The rise in sugar prices, Maglaya confirmed, appears to come from sugar supply manipulation.

In the case of cement, however, Maglaya assured that the increase in cement prices has been a modest three percent.

Cement Manufacturers Association of the Philippines (CEMAP) Ernesto Ordonez explained that last year cement prices even went down.

However, because of the seasonal demand, cement prices are expected to go up as the summer construction season comes around.