BOC earns P1.920M from sugar bidding

CEBU, Philippines - The Bureau of Customs Port of Cebu bid out yesterday the P1.920 million worth of smuggled sugar seized by the bureau four months ago.

Atty. Dante Maranan, BOC Port of Cebu officer-in-charge of the Auction and Cargo Disposal Unit, said that the winning bidder is Miesto International Food Corporation.

Maranan said that only food ma-nufacturers or food processors-like Miesto were qualified to join  the bidding.

Miesto International Food Corporation is based in  Liloan, Cebu whose product lines include flavored drinks and ice pops.

In April, the BOC set the floor price at P1,100 per bag sometime in April as recommended by the Sugar Retail Authority.

However, no one showed in interest as the price is too high, Maranan said.

In June this year, SRA recommended a price of P900 per bag as prices of sugar in the world market has gone down.

“Gihagad na ni namo sa mga food processors ug food manufacturers kay dugay na ang maong kargamento. Sugar is a perishable item,” Maranan said.

During the public auction, the price of sugar per bag was sold at P960 or P1.920 million for the 2,000 bags.

The smuggled sugar from Thailand was seized by Customs sometime in March after the consignee failed to present import permit. (FREEMAN)