Palace: More inspection of sugar warehouses in coming days

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There may be more inspections of sugar warehouses in the country amid concerns about supply of sugar, the Palace said. | NAMercadoINQ

The OPS said two warehouses, owned by a certain Victor Chua, were inspected by agents of the Bureau of Customs late Wednesday evening and Thursday afternoon.

According to the OPS, an estimated 25,000 to 30,000 sacks of different kinds of sugar were found in the warehouse inspected on Wednesday evening.Meanwhile, an estimated 42,733 sacks of sugar, which is roughly equivalent to 2,150 metric tons worth P215 million, were found in the other warehouse inspected on Thursday afternoon, the OPS said citing the Customs bureau.

The OPS said the joint BOC-Department of Agriculture raid was based on information that the warehouse owned by Chua has been storing hoarded sugar aimed at taking huge profits from the current high sugar prices in the market.

 

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