Price Controls Lifted on Packaged Sugar, PM Says

Prime Minister John Briceño is defending the decision to remove price controls on some retail sugar, saying sugarcane farmers will still benefit from local sales. He explained that while sugar sold by the pound remains regulated, prepackaged and labeled bags are no longer under control and can now be packaged and sold by anyone. Here is how he explained it.

 

Prime Minister John Briceño

“What we have done is that with sugar being sold in bag that they weigh for you, that is being controlled. What is not controlled is the one packaged, with the label and all of that, one pound, five-pound bags, that is not controlled and that is open to anybody who wants to package. Santander can do it. If you want to buy the sugar with the sack and want to package it, then no.”

 

Reporter

“Well Santander will have to prepackage BSI’s sugar since they can’t sell locally.”

 

Prime Minister John Briceño

“Well that is another thing that would have to be discussed. Remember now Santander will be producing refined sugar and they are asking to sell on the local market. It is something that still has to be determined.”

 

Reporter

“The refining is a ways off.”

 

Prime Minister John Briceño

“I won’t say ways off, within a year or two.”

 

Reporter

“Isn’t the intention to have caneros benefit? If you have others doing it you are cutting into what they can get.”

 

Prime Minister John Briceño

“That is not it. Listen, whenever we sell sugar on the local market the caneros benefit. But BSI what they do is they have another business, they buy sugar from the caneros and they package it. If they package it they are the ones that benefit. But if the caneros want to buy sugar and package it, that is up to them. 6:28

That’s the Prime Minister’s stance tonight. Sugar sold by the pound remains controlled, but prepackaged sugar is now open to anyone who wants to enter the market, including farmers. And while Santander’s role in local sales is still to be decided, the PM insists cane farmers benefit from every pound sold locally, no matter who does the packaging.”