President Gloria Macapagal Arroyo yesterday said she hopes the proceeds from high millgate sugar prices will be put to good use by the sugar industry, Presidential Adviser for the Western Visayas Rafael Cosoclluela said yesterday.

RP and world market prices of sugar have been rising amid an expected tight supply worldwide.

Sugar Regulatory Administrator James Ledesma Friday announced that the country is importing 50,000 metric tons of sugar to curb speculation of a tight supply in the country that was driving millgate prices beyond normal market rates.

The President has been urging the Philippine sugar industry to improve it production efficiency in order to be competitive in the world market and to also diversify into the production of ethanol.

Arroyo yesterday led the opening of the weeklong annual Dinagyang festival here after attending a concelebrated Mass at the San Jose Parish Church. The President declared the start of the festivities immediately after she received the image of the Sto. Nino from Fr. Roy Margallo, parish priest of San Jose church, following the Holy Mass.

"I now declare the Dinagyang competitions open," the President announced, signaling the start of the festival, as a colorful parade rolled from the church premises.

Justice Secretary Raul Gonzalez, Government Mass Media Secretary Cerge Remonde and Ioilo City Mayor Jerry Trenas joined the President at the Holy Mass officiated by Fr. Margallo.*CPG

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