Coca-Cola Philippines has stopped the operations of its bottling plants in Naga and Davao due to the shortage of refined sugar.
On Monday (August 22), managers at the two plants posted signages by the factory gates which read: “This Coca-Cola plant has suspended operations due to the lack of supply of bottler’s grade sugar, as a result of the ongoing sugar crisis.”
Coca-Cola Philippines earlier said there is a shortage of at least 450,000 metric tons of premium refined bottler grade sugar for the beverage industry to meet demand until the end of the year.
President Ferdinand Marcos Jr. earlier announced the importation of 150,000 MT of sugar to augment local supply, but stressed that it will be done in October when the harvest season is ongoing.
The sugar crisis has led to a spike in the prices of refined sugar, with a kilo costing P100. The administration, however, has reached an agreement with the owners of Robinsons Supermarket, SM Supermarket, Puregold Supermarket, and S&R Membership Shopping to sell refined sugar at P70 per kilo.