Sugar prices up by P6/kg in Metro Manila markets

Prices of sugar rose by as much as P6 per kilo in some markets in Metro Manila to P52 Wednesday, even as trade officials noted a "smaller" price hike, which it said was due to increased demand. The Department of Trade and Industry (DTI) initially estimated the price adjustment at only P4 per kilo, according to a report on dzBB radio. "Sa aming pagsasaliksik at pakikipag-ugnayan sa Sugar Regulatory Administration, nagkaroon ng pagtaas ng demand. Ang nakatakdang suggested retail price (SRP) ng sugar e noong last year is P50 so mababa pa ito," DTI Bureau of Trade Regulation and Consumer Protection Vic Dimagiba said in an interview, excerpts of which were aired on dzBB Wednesday. He was referring to their monitoring where sugar prices rose from P44 to P48 per kilo last month, the dzBB report said. But a separate report by dzBB's Allan Gatus Wednesday morning said sugar prices went up to as high as P52 per kilo at the Balintawak Public Market in Quezon City. Gatus' report said sugar prices at the Balintawak market went up from P46 per kilo to P52. Brown sugar prices went up from P40 to P42 per kilo. It said the vendors at the market claimed their suppliers jacked up the prices of sugar, forcing them to follow suit. However, the report said prices of cooking oil went down slightly at the market, from P55 per liter to P54 per liter. — LBG, GMA News