Crisis hits sugar milling firm in northern Cebu

·2 min read

A SUGAR milling company in northern Cebu was one of those affected by the ongoing sugar crisis in the country.

Medellin Mayor Joven Mondigo Jr. said the 94-year-old Bogo-Medellin Milling Company Inc. (Bomedco) located in Barangay Luy-a suspended its operations for one month from July 15 to August 15, 2022, rendering its administrative staff and factory workers jobless due to the crisis that is being felt all over the country.

“Presently, dili maayo ang dagan sa Bomedco,” said Mondigo on Wednesday, August 17.

(Presently, business is not good for Bomedco).

“Ang uban planter ni opt to mill ila tubo sa Negros, ang pagsustain sa operation ang ilang dako nga (problema),” he added.

(Other sugarcane planters opt to mill in Negros, sustaining the operation is their big problem).

Based on the list from the Department of Social Welfare and Development in Central Visayas (DSWD 7), up to 240 employees of Bomedco worked under the “no work, no pay” arrangement for one month.

To make up for their loss of income, the DSWD and the local government unit of Medellin distributed P5,000 cash assistance and 10 kilos of rice to each of the affected employees.

In line with this, the mayor has called for a special session with the council to discuss solutions to address the problem.

“Gipatawag sa Municipal Council ang management sa central to apprise sa situation sa Bomedco,” said Mondigo.

(The Municipal Council called on the management of central to apprise the situation of Bomedco).

Bomedco is listed in the Philippine Stock Exchange (PSE) under the stock symbol BMM.

The company started its operation on June 4, 1928. It can process into sugar around 3,000 sugarcane tubes in a day.

Based on its latest financial quarterly report released on June 30, 2022, the company garnered a net income of P12,813,000. (ANV, TPT)