Pepsi, RC, and Coca-Cola: “We are working closely with other stakeholders of the industry and the government to address the situation”
PEPSI, RC, AND COCA-COLA — The softdrink makers confirmed that the softdrinks industry is facing a shortage of premium refined sugar.
Pepsi-Cola Products Philippines Inc., ARC Refreshments Corp., and Coca-Cola Beverages Philippines Inc. released a joint statement saying that the softdrinks industry is bearing the brunt of declining supply of sugar in the Philippines.
According to the softdrink makers, the softdrinks industry is facing a shortage of premium refined sugar, which was a “key ingredient in many of our products”.
“We are working closely with other stakeholders of the industry and the government to address the situation,” the softdrinks makers said in a joint statement. “We thank our customers and the public for their continued support to our products and for their understanding.”
The joint statement came amid the controversial issuance of Sugar Order No. 4, authorizing the importation of 300,000 metric tons of sugar which was later on deemed “illegal”.
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Meanwhile, the Foundation for Economic Freedom (FEF) said in a statement that it has been informed that a number of fruit juice and bottling companies have cut down on the number of workers they hired due to the inadequate sugar supply and the increasing prices of sugar in the Philippines.
The FEF also said that those companies “will be compelled to close down their operations soon” if there will be no sugar available in the country in the coming months.
In addition, the FEF said that a number of food processing companies had already decided to relocate their operations to neighboring countries due to the high cost of raw materials in the Philippines.
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