DTI asked if soft drinks in Cebu City are priced right
Following confirmation of a refined sugar shortage, the Cebu City Council wants the city government to inquire from the Department of Trade and Industry (DTI) whether soft drinks sold in the market by Coke, Pepsi, and RC are reasonably priced.
Councilor Pancrasio Esparis sponsored a resolution on the subject, which was approved by the Council.
The Philippines’ top soft drink manufacturers confirmed reports of a refined sugar shortage in August 2022, amid rising commodity prices and a government squabble over imports. (https://bit.ly/3fvGZ99)
Coca-Cola Beverages Philippines, Pepsi-Cola Products Philippines, and ARC Refreshments Corporation all stated that premium refined sugar or bottlers’ grade sugar, a “key ingredient” in their products, is in short supply.
Protecting the interests of Cebuano consumers, according to Esparis, must be a top priority.
He added that while it is understandable that prices rise when supply is limited, this is also the time when unscrupulous individuals take advantage of the situation.
The Council also asked DTI to submit to the Sangguniang Panlungsod a report on the steps the agency is taking to protect Cebu City consumers’ interests in light of the sugar shortage.
The United Sugar Producers Federation of the Philippines has accused traders of attempting to maximize their profits, despite reports that the retail price of refined sugar remains high at P100 per kilo in some Metro Manila markets.