Price council to quiz sugar administrator over high price

The National Price Coordinating Council will quiz the Sugar Regulatory Administration over high prices of sugar despite the start of the milling season. In a radio interview, Trade Undersecretary Zenaida Maglaya said the council invited the SRA to its Friday meeting to explain why sugar prices are still at P65 per kilo. "Sugar prices remain high at P65 per kilo. We will have a meeting of the Price Coordinating Council and we have invited the SRA administrator to attend and explain why sugar prices had not gone down even if the milling season is at full blast," Maglaya said in Filipino in an interview on dwIZ radio. Also expected at the meeting are representatives from the Land Transportation Franchising and Regulatory Board, who will give an update on fares of public transport. She said the meeting also aims to look at the bigger picture involving prices of basic goods. Maglaya said that so far, they expect prices of liquid and powdered milk to rise due to the high world prices of imported milk solids. Also, she said they expect some noodle makers to raise prices – with the maker of one brand of noodles already raising its prices effective last Feb. 1, due to the high world prices of wheat, which is used to make flour. But Maglaya said the price hike was relatively small – 50 centavos per pack. "So far isang brand nagtaas ang iba hindi pa, nakikikiramdam pa kung kakayanin nila ang pagtaas na ito baka may inventory pa sila (So far only one brand has raised prices. It appears the other brands are still feeling each other out, to see who will raise prices next)," she added. Maglaya also said at least one brand of canned meat may raise prices due to the high costs of tin, which is used to make cans. She said this may cause an adjustment of three to five percent. As for other basic goods, she said there is no indication of price hikes, adding that other goods such as pork and chicken have remained stable. "We will keep an eye on prices. We will make sure no one exploits the situation," she said. — LBG, GMA News