Sugar
MAKATI CITY, Philippines – The Department of Trade and Industry (DTI) reported a P10 per kilogram price surge in sugar.
The agency said the reason for the sharp increase is due to limited supply. This is actually the agency’s basis for considering recommending sugar importation.
“Para rin ma-stabilize ang presyo natin dito, I think pwede nang mag-import; bababa iyong local price,” said DTI Undersecretary Ruth Castelo.
(To stabilize the prices here, we could consider importing; local prices will go down.)
The DTI now fears it will affect the prices of other products that use sugar, including bread, soft drinks, fruit juices among others.
Still, the agency warned vendors not to increase prices of old stocks of sugar.
“Kung luma na iyong stock, dati nang nandyan nung nagtaas iyong presyo, dapat hindi mo muna itaas ang presyo ng benta. Iyong future production ng sugar, doon na tataas dapat,” Castelo explained.
(If it’s old stock,you should not increase its price. The price increase only applies to the future production of sugar.)
The Federation of Philippine Industries, meanwhile, said the DTI should immediately act on the price surge to prevent it from worsening.
“Tumawag na ang Secretary of Trade ng meeting with the Sugar Regulatory Administration and the Department of Agriculture. Itong sugar millers para malalaman ano ba problema, ano ba total consumption ng Pilipinas at ano ang total production ng Pilipinas, ” said its president, Jesus Arranza.
(The Secretary of Trade called for a meeting with the Sugar Regulatory Administration and the Department of Agriculture. From the sugar millers we need to determine the problem; the total consumption of the Philippines and the total production of the country.)
There is currently no suggested retail price (SRP) for sugar, but the Sugar Regulatory Administration can control its prices in local markets. – Mon Jocson / Marje Pelayo
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