Sugar prices seen to stabilize ‘in a month’s time,’ says SRA

The retail prices of sugar are expected to stabilize in about a month as milling season begins, the Sugar Regulatory Administration (SRA) said Wednesday.

In an interview on Dobol B TV, SRA Acting Administrator David Alba said that sugar milling has already started and full operations are expected in mid-September.

“It will take about a month until it reaches Manila. In a month’s time ma-stabilize na ang presyo (prices will stabilize),” Alba said.

The SRA chief said that prices of refined sugar may “go over P80 per kilo.”

Data from the Department of Agriculture’s (DA) monitoring as of August 22 showed that the prevailing price of refined sugar is at P100 per kilo while washed sugar and brown sugar are sold at P75 per kilo and P70 per kilo, respectively.

Meanwhile, some supermarkets have started refined white sugar for P70 per kilo

Earlier, the Palace said that owners of Robinsons Supermarket, SM Supermarket, and Puregold Supermarket have agreed to sell sugar at P70 per kilo. 

Sugar is on the spotlight following the controversial issuance of Sugar Order No. 4 (SO4), authorizing the importation of 300,000 metric tons of sugar which was later on deemed “illegal” as it was signed without the knowledge and expressed approval of the President, who as the concurrent secretary of the Department of Agriculture also sits as the chairman of the Sugar Board.

Signatories of the controversial order, including Agriculture Undersecretary Leocadio Sebastian, board member Atty. Roland Beltran, and Sugar Regulatory Administration administrator Hermenegildo Serafica, have quit from their posts.

Marcos earlier rejected the proposal to import 300,000 metric tons of sugar despite the increasing prices of the basic commodity due to supply constraints.

The Department of Agriculture earlier said there is a shortage of about 300,000 metric tons of sugar as local production was affected by the onslaught of Typhoon Odette late last year.  —LBG, GMA News