Senator Risa Hontiveros revealed that three sugar importers may get at least P7 billion in “super profits” by selling the sweetener at an “appalling” price. | DFernandezINQ
The three importers that Hontiveros was referring to are the All Asian Countertrade, Sucden Philippines Inc., and Edison Lee Marketing Corporation. The three traders are led by the firm All Asian.“All Asian, according to my sources, initially quoted a wholesale price of P85 per kilo. Why is this price so appalling?” Hontiveros said in a press conference.
“You can actually buy refined sugar wholesale for P25 per kilo in Thailand. Kung matino kang importer, you know that you would already get a decent profit if you sell sugar at P61, bayad na doon ang warehousing, duties, handling, at may maayos ka na na profit of P8 per kilo per industry standard at a wholesale price point of P61 [covering the warehousing, duties, handling and you’ll have an P8 per kilo profit per industry standard at a wholesale price point of P61],” she pointed out.
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