The Sugar Regulatory Administration has not issued any permit to import high fructose corn syrup for January this year, SRA board member Emilio “Dino” Yulo said.
But Yulo also said he cannot speak for the period from January to November last year, as he was not yet with the SRA and only took his oath as SAP board member on Nov. 21 last year before Agriculture Secretary Emmanuel Piñol.
The Sugar Alliance of the Philippines blamed the drop in millgate domestic sugar prices to the unregulated entry of 280,000 metric tons of HFCS at the start of the current milling season.
Yulo, who was former SAP spokesperson before his designation to the SRA board, maintained that he is against the entry of HFCS in the country, that he also blamed for the decrease in the prices of sugar.
He added that the imposition of excise tax has forced beverage producers to veer away from HFCS.
Under the Tax Reform for Acceleration and Inclusion (TRAIN) law, tax imposed is P12 per liter on beverage companies using HFCS, and only P6 for those using sugar. The sweetened beverages cover soft drinks, energy and powdered juice drinks.*GPB
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