Despite world market sugar prices rising to 18.29 cents a pound, domestic sugar prices dropped yesterday, Luis Tongoy, chairman of the Confederation of Sugar Producers Association-Negros Panay chapter, said.

"This could be a sign that speculators were scared off by the government's sugar import moves. I hope the legitimate buyers will not be spooked as well," Tongoy said.

He said only raw sugar sold yesterday, there were "no takers for refined sugar of Victorias Milling Co., Lopez and First Farmers".

"B" or domestic sugar at Hawaiian Philippines sold at P1,356 down P62, La Carlota P1,345 down P57, and Binalbagan Isabela Sugar Company P1,320 down P40, he said.

Enrique Rojas, president of the National Federation of Sugarcane Planters, said "B" at the Southern Negros Development Corp in Kabankalan sold at P1,350 and "A" or US market sugar sold at P1,210.

Enrique Montilla, president of the Binalbagan Isabela Planters Association, said their "B" sugar sold at P1,325 per Lkg from P1,387.79 last week, while "A" sold at P1,166.90 from 1,182.08 in the previous week.

Sugar Regulatory Administrator James Ledesma yesterday said that, despite of the adjustment prices remained above P1,300 per Lkg "that is still high."

High millgate prices believed triggered by speculation by traders of an expected tight supply of sugar has caused retail sugar prices to go up and has led to President Gloria Macapagal's ordering the immediate importation of sugar.

Ledesma had earlier said the government will import 50,000 metric tons of sugar as soon as possible.

Negros Occidental Gov. Joseph Marañon yesterday said he does not agree that sugar prices should be controlled, free enterprise should be allowed to prevail.

The sugar planters should be allowed to recover their losses in the past years when prices were down through the current good prices, he said.

We should just allocate a certain portion of production to be sold at lower rates for the poor, he said.

He said the sugar planters should not be blamed for the high retail prices, as he appealed to the middlemen and the traders to also have a heart for the poor.

The governor also said he is urging the planters to start using organic fertilizer to reduce their production cost and to improve the quality of their soil.*CPG

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