Agri dept recommends two peso sugar price cut to P52 a kilo

Consumers may get another relief from high sugar prices with a looming P2/kilo slash in prices of the commodity. The Department of Agriculture (DA) recommended refined sugar prices to be set at P52 per kilo, two pesos lower than the current P54, Trade Undersecretary Zenaida Maglaya said on Monday. "Ang asukal as of Saturday at P54/kilo refined sugar. Ang ni-recommend ng DA ngayon, ibaba sa P52 ang suggested retail price ng refined sugar (As of Saturday, refined sugar sold at P54 per kilo. But the Agriculture Department had recommended that the price be lowered to P52 per kilo)," Maglaya said in an interview on dzXL radio. She said brown sugar will be sold at P44/kilo, while white sugar will be sold at P46/kilo. She also urged sugar traders to put off exporting sugar for now, saying government seeks to cut prices of the sweetener before the lean months arrive. The Price Council will meet this Thursday to take up prospective price hikes in pork and chicken, she added. Expected to attend the meeting are Vice President Noli de Castro Jr. and Trade Secretary Peter Favila. Last weekend, Maglaya said the council may come out with an updated list of suggested retail prices for basic goods. "Ating titingnan ang scenario in the next few weeks and months sa epekto ng El Niño on basic goods (We will discuss the scenarios in the next few weeks and analyze the effects of El Niño on basic goods)," she said. - RJAB Jr., GMANews.TV