BOC auctions smuggled sugar
CEBU, Philippines - The Bureau of Customs-Port of Cebu auctioned the 5,118 bags of smuggled refined sugar that were intercepted last November 22.
The shipment, onboard M/V Titan from Thailand, was declared as marbles, granite products and eyeglasses and became controversial after it was discovered that the documents were fake, with forged signatures.
No consignee ever showed up to claim the shipment which prompted BOC-Cebu district collector Ronnie Silvestre to issue a warrant of seizure and detention and conduct the forfeiture proceedings.
After it was declared forfeited in favor of the government, an auction sale was conducted last January 22 at the BOC with some of the government representatives (Commission on Audit, Sugar Retail Authority-Cebu, among others) and the bidders.
The bidders included Profood International Corporation who bid P1,120.00 per bag or a total of P5,732,160.00; 7D International Corporation who bid P1,110.00 per bag or a total of P5,680,980.00; and Miesto International Food Corporation who bid P1,135.00 per bag or a total of P5,808,930.00.
The auction committee awarded the entire lot to the winning bidder, Miesto International Food Corporation, a Liloan, Cebu-based company, whose product lines include flavored drinks and ice pops. (FREEMAN)
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