Prices of "B" or raw sugar remained above P1,000 per 50-Lkg, but higher than last week's, at the bidding held Thursday, price monitor of the Sugar Master Plan Foundation shows.

In January 4, millgate prices ranged from P1,204.25 to P1,149.68 per Lkg.

This week, the lowest was pegged at P1,067.67 while the highest, at P1,208.89.

The Binalbagan-Isabela Sugar Company sold its stocks at P1,111 (high) and P1,067.67 (low) for a total volume of 18,523.70 Lkgs.; Central Azucarera de La Carlota, P1,111.60 (high) and P1,067.67 (low), 1,714.63 Lkgs; Hawaiian-Philippine Company, P1,118.18 (high) and P1,077.10 (low), 12,482.82 Lkgs.;

SONEDCO, P1,080, 7,524.69 Lkgs.; Victorias Milling Company, P1,125, 7,480.43 Lkgs; Lopez Sugar Corp. and Sagay Central Inc., P1,125; CADP, P1,122;

BUSCO, P1,090; Passi I, P1,208.89; and Passi II and Pilar, P1,110.

In the second week of December, prices ranged between P977.65 and P1,050 per Lkg. while in the third week, between P999.12 and P1,065 per Lkg.

Prices dropped to a low of P930 per Lkg several weeks after the start of the milling season in September but it picked up eventually towards the last months of 2006.

Sugar Regulatory Administration data show during the crop year of 2005 to 2006 which ended in August last year, raw sugar production reached 2.137 million metric tons, a minimal 0.6% decrease over the previous crop year's 2.151 MMTs.

For the 2006-2007 crop period, raw sugar production is estimated to reach 2.24 MMTs, which is more than enough for domestic consumption and projected exports to the US market.*NLG

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