QUEZON CITY, Philippines – The Sugar Regulatory Administration (SRA) is confident that market prices and supply of sugar will begin to normalize next week as imported sugar from Thailand is expected to arrive next week.
“Ang nangyari kasi, malaki ang volume. Paunti-unti ito. Mauna sa first week of July may parating na, kasi hindi sabay sabay ang pag-apply ng mga sugar traders,” said SRA administrator Hermenegildo Serafica.
The Department of Trade and Industry earlier reported rising prices of raw and refined sugar of up to P10 per kilogram in local markets due to low supply.
The SRA noted that local sugar production declined by 15 percent this month as compared to the same period last year, just as the demand rose after drinks sweetened by high-fructose corn syrup were taxed P12 per liter under the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
Bread and pastry makers previously said they are mulling over increasing the prices of pandesal and bread loaf, but the SRA believes this is no longer necessary.
The agency also said the importation of 200,000 metric tons of sugar is less likely to affect local producers since this is only meant to address the drop in supply.
The SRA also clarified that there is enough supply of sugar in the country following the cease in operation of 10 refineries.
“Ibig sabihin nagsara o nag-end na iyong season noong particular na district na yun. It’s not for anything…meaning tapos na iyong harvest season, alangan namang mag refine pa sila ng wala ng supply,” Serafica said. – Mon Jocson / Marje Pelayo
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