Sale of smuggled sugar via Kadiwa hit
MANILA, Philippines — Opposition Sen. Risa Hontiveros on Tuesday chided the government for its move to sell smuggled sugar at Kadiwa stores, for which the government would make a “huge” profit by selling these at P70 per kilogram.
Hontiveros said that, while it was not wise for the to destroy the seized shipment of smuggled sugar, it also could not sell these at P70 per kg. when the buying price in Thailand is merely P28 per kg.
The is targeting to sell the 440,000 tons of smuggled sugar at Kadiwa stores for P70 per kg., which is supposedly lower than the prevailing retail price of P86 to P110 per kg. for refined sugar, and P80 to P95 per kg. for raw sugar.
“[P50 to 60 per kg.] which sounds like the midpoint between P28 and P70,” Hontiveros said.
