February 15, 2017
Carla P. Gomez (Visayan Daily Star) | https://goo.gl/gDkuc5
Senators Juan Miguel Zubiri and Richard Gordon have filed a resolution calling on the appropriate Senate committee to conduct an inquiry in aid of legislation of the impact on the domestic sugar industry of the increasing importation of high fructose corn syrup.
They are also asking that the inquiry includethe need review policies of the government on the importation of HFCS to protect the interest of small farmers, agrarian reform beneficiaries and the domestic sugar industry.
They pointed out that HFCS is a processed sugar substitute derived from cornstarch and is commonly used by the food and beverage industry as a replacement, or in combination with table sugar or sucrose.
From 2011 to 2016 more than 766,890 metric tons of HFCS was imported into the country causing a decline in the consumption and prices of domestic sugar.
The unabated importation of HFCS that is driving the prices of domestic sugar down is affecting the livelihood of a lot of farmers and the sugar industry as a whole, the senators said.
The continued plunge of sugar prices is making it hard for sugar producers and small farmers to recoup their expenses, they pointed out.
There is a need to conduct an impact assessment of the effects of the massive importation of HFCS on the local economy, especially the sugar industry, as the continued drop in the prices of local sugar will eventually trickle to millions of Filipinos who depend on sugar for their survival.
They are also calling on remedial legislation to safeguard the interest of concerned stakeholders.*CPG