MANILA (Bloomberg): The Philippines said a shortage in refined sugar has affected local soft-drinks makers, including Coca-Cola whose needs have reached a "critical place.”
The nation’s Sugar Regulatory Administration said it’s determining the volume of additional refined sugar that’s needed so that it can recommend actions to President Ferdinand Marcos Jr, who’s also agriculture chief.
Two other soft-drinks makers, Pepsi and RC Cola, still have available supply, the agency said. All sugar output for this crop year will be for local use, and there will be no allocation for the US quota, it said.
The Philippines is experiencing a sugar shortage which has driven up prices, and which the government has said was "artificial” due to hoarding. Marcos has directed supermarkets to cut prices and now favoUrs importation after initially rejecting the plan.
