Lawmaker to seek inquiry on ‘sugar manipulation’

Saturday, December 2, 2017
Teresa D. Ellera

NEGROS Occidental Third District Representative Alfredo Benitez said Friday he will file December 4, a resolution calling for a congressional inquiry into the alleged manipulation of some traders that caused the decline in the mill gate prices of sugar.

“I got the report that the alleged manipulation by some traders is happening. They were asking me If I will agree to having a congressional investigation, and I said, ‘No problem’ we are going to do that,” he said.

Benitez pointed out that because of the claims of both the planters and the workers organizations, there is a need to determine if the prices are market-driven or there are really people taking advantage of the situation.

He added that sugar workers are affected, with sugar prices at almost a breakeven situation.

Some planters said they will suffer losses, if anything lower than the present pricing happens, he said.

“I will file a resolution on Monday to call for an inquiry into this matter,” Benitez said.