Manila: The Department of Agriculture (DA) will investigate the claims of an artificial shortage of sugar in the country that has led to the hike in its prices, said the officials.
Kristine Evangelista, Undersecretary for consumer and political affairs said, “We are looking into the artificial shortage of sugar as we have received complaints about the same.”
He said, “Necessary steps will be taken if the manipulation is proven. We will also review the prices in the retail markets that are dictated by traders which are supply-driven.”
“We will conduct meetings with the industry stakeholders and discuss the new cost structure that would serve as the basis for pricing sugar products in the succeeding months,” Evangelista further added.