16 firms eye tax-free sugar imports

MANILA, Philippines—About 16 private firms, among them Coca-Cola Bottlers Inc., have expressed interest in importing sugar tax-free.

According to the National Food Authority (NFA), which is facilitating the importation, a mix of industrial, processing and trading companies have bought bid documents in order to participate in the Feb. 23 bidding.

Next Tuesday, the NFA will auction off rights to import 60,000 tons of sugar at zero tariff.

The 60,000 tons, which have to be delivered by May 15, is part of the 150,000 tons of sugar to be imported this year. The government hopes to stabilize prices of the sweetener.

 

“That is a good indication of interest in the private sector,” said Archimedes Amarra, executive director of industry group the Philippine Sugar Millers Association Inc.

Earlier, NFA director for marketing operations Romeo B. Jimenez told reporters that the grains agency could expect “enough interest” from private firms to proceed with the importation.

“Being able to import sugar without tariff is an advantage,” he said.

During a pre-bidding conference, the NFA said industrial users like soft drink makers could collectively import 20,000 tons of sugar. Each industrial user may bring in as much as 5,000 tons.

Some 22,000 tons may be brought in for retailers and repackers. About 12,000 tons will go to institutional users, such as hotels and bakeries, and the rest, or 6,000 tons, will be allocated to food processors.

Retailers, institutional users and food processors may each import 1,000 tons of sugar.
 

Bisnis Indonesia.com

http://business.inquirer.net/money/breakingnews/view/20100217-253677/16-firms-eye-tax-free-sugar-imports