Sugar prices yesterday still reflected a market with the right fundamentals, Sugar Regulatory Administrator James Ledesma said.

Most "B" or domestic sugar sold above P1,200 per Lkg yesterday. Ledesma earlier predicted that prices would level off at P1,200 per Lkg.

"The prices are good. Bids are tight indicating the underlying strength of these price levels," Luis Tongoy, president of the Confederation of Sugar Producers-Negros Panay chapter, said.

"A" or world market sugar sold at P1,171 per Lkg and "B" at P1,225 at Victorias Milling Co., P1,170.01 for "A" and P1,220 for "B" at and the Binalbagan Isabela Sugar Co., he said.

Enrique Montilla, president of the Binalbagan-Isabela Planters Association, said BIPA "A" sugar sold at P1,166.10 and B at 1,225.35.

United Sugar Producers Federation of the Philippines sold it's "A" sugar sold at P1,170.08 and "B" at P1,225.78 at Hawaiian Philippines Co., and at P1,170.08 for "A" and P1,211.73 for "B" at Central Azucarera de La Carlota.*CPG

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