THE price of refined sugar should just be around P80 to 85 per kilo, according to Sugar Regulatory Administration (SRA) administrator Pablo Luis Azcona.
This comes amid reports that the price of refined sugar has risen to P100 per kilo in some supermarkets and grocery stores.
In an online briefing with reporters, Azcona said that while the farmgate price of sugar has both risen and fallen in the past few months, the price is generally on the downtrend.
“Problema sa SRA at sa DA, ang problema ang laki na ng binaba sa farmgate, bumaba P10 per kilo pero hindi nakikita sa retail,” he added.
Asked if there is an expected price increase in sugar before Christmas, Azcona said they cannot control how businessmen will decide on its retail price.
“Historically, bumababa ang farmgate price [before Christmas], so farmers are hoping for a more stable price. However, businessmen and retailers, tinataas ang price kasabay ng demand,” he said.
He added, “Hindi natin gusto ‘yan and we’ll try our best not to allow it.”
Azcona said they have always been mulling to impose a suggested retail price (SRP) in sugar, but the problem lies in the implementation.
“We are finding means and ways for government to come in and see how to help the farmers and the retail consumers,” he said.
The administrator said there is an ample supply of sugar this year, coming into the holidays when demand is expected to spike.
The UN Food and Agriculture Organization said global sugar prices soared to their highest level in almost 13 years in September as the El Niño weather phenomenon hit production in India and Thailand.
Last year, sugar prices spiked in the second half, helping push inflation to a 14-year high. (ABS-CBN News)
