The Philippine Sugar Millers Association escalated to President Marcos its appeal to reconsider the DOF's proposal to double excise taxes on sweetened drinks as this would severely affect the local sugar industry. | jordeenelagare /PDI
HFCS is an artificial sugar made from corn syrup. The PSMA said it was used as sweetener primarily and only in beverages, and not in the production of food products such as bread and pandesal.
“The higher tax rate for beverages with HFCS discourages their consumption because of health risks attributed to the sweetener, evidenced by the growing number of health-conscious consumers in the United States and Europe preferring beverages sweetened with sugar instead of HFCS,” Lobregat said in the group’s July 6 letter to the President.
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