Does the sugar industry help the country?
B sugar prices in Vicmico improved to P1,223.58 per bag in yesterday’s bidding, compared to only P1,201 last week. Hawaian’s B prices were slightly lower at P1,213 per bag. A sugar fetched P1,195 per bag in Vicmico, up P5 per bag compared to last week. Hawaian’s A sugar sold at P1,193 per bag while its molasses fetched P6,301 per ton. *** Indeed, the sugar industry is a vital cog in the country’s economy. Aside from providing jobs and securing the country’s food sufficiency, the sugar industry supports food processors and exporters to ensure that they continue to be competitive and provide jobs to thousands of our fellow Filipinos by allocating a percentage of sugar production to these food processors and exporters at affordable prices. For updates from around the country, follow Sun.Star on Twitter The industry supports not only the large companies engaged in sugar-based exports but it has also shown its concern for the marginalized sectors of society. It can be recalled that, three y