The Sugar Regulatory Administration (SRA) is weighing the option of selling confiscated smuggled sugar in supermarkets as well, Bernadette Reyes reported on "24 Oras" on Tuesday.
"If they allow that then we will be able to sell the Kadiwa sugar in the big chains as well, at P70," said SRA Acting Administrator Pablo Luis Azcona in the report.
A kilogram of sugar currently sells for P100 to P136 based on SRA records and monitoring by the Department of Agriculture (DA), but Azcona said this price range only refers to sugar prices in some stores.
“Iisang supot lang po yung P136 doon, there is P120, there is P100. Iba-ibang brands po 'yun. Makikita nyo, mayroon tayong high, mayroon tayong low, 'yung important for me is the average, which is P91.50,” Azcona said.
Based on DA's latest records, the lowest price of white sugar in Metro Manila markets is P86 per kilo, which P1.00 higher than the SRA's target suggested retail price (SRP) of P85 per kilo.
The SRA also said that based on its calculations, despite the higher production costs, the current farm gate price of sugar is only P60.
“Based on our farm gate and based on the amount of supply that we have, medyo sobra talaga 'yung price sa retail price. 'Yung sapat po na retail price based on the situation sa ngayon po, 'yung sinasabi natin P85 to P90 retail price ng refined, ‘yun po talaga fair price as of this moment,” Azcona said. — Sherylin Untalan/BM, GMA Integrated News