The inability to import sugar was one of the major reasons that the year-on-year inflation rate for the item Sugar, Confectionery and Deserts for February 2023, as reported by the PSA (Consumer Price Index for subgroups), was a whopping 37%. That is the highest inflation rate for all items in the CPI. Not only that. Prices for this subgroup also rose between January to February this year. We, the people, suffered.
But we are now in a second scandal, with pre-emptive sugar shipments and admitting to ignoring the rules. This one may have more dangerous repercussions.