Not a sweetener: Fully liberalising trade in sugar would hurt planters and millers in the Philippines, whose profits are projected to decline by 57%, while consumers gain by up to 65%. – Bloomberg
MANILA: Opening up sugar trade to imports has to be gradual to ensure that the anticipated cheaper prices, which may hurt local producers, will benefit all consumers – not only the rich who buy more of the product, but also the poor, according to a study commissioned by state planning agency National Economic and Development Authority (Neda).
“The case for sugar trade liberalisation appears weak at this time. Should it be pursued nonetheless, it would be best done gradually and only partially, especially in the face of severe distortions in the world sugar market, ” Neda consultant Brain Trust Inc said in its report titled “An Assessment of Reform Directions for the Philippine Sugar Industry.”