Millgate prices of domestic or “B” sugar dropped below the P1,200 level this week after hitting P1,250 per Lkg in some mill districts in Negros two weeks ago.

The decline in the “B” prices prompted the Association of Productive Planters of Negros Occidental Inc. to express concern with the National Federation of Sugarcane Planters Inc. headed by Enrique Rojas who blamed what he called the untimely conversion of reserve sugar into domestic sugar as one of the major reasons for the sudden drop in sugar prices. 

Sugar Regulatory Administration head Rafael Coscolluela said yesterday the drop in the “B” prices is merely due to market forces wherein the domestic sugar stocks may have already been overbought at higher prices.  

IN CONCEPCION, ILOILO
DMCI readying to
start coal plant

ILOILO CITY – The David M. Consunji Inc. group is preparing to start of the construction of a 100-megawatt coal-fired power plant in Concepcion town in Iloilo as soon as it signs a power supply agreement with power distributors in Panay Island.

DMCI president and chief executive officer, Isidro Consunji, said creditor banks are ready to fund the P7.36 billion project in Barangay Nipa, Concepcion.

“We can go anytime as soon as they can sign the power supply agreement and it is approved by the (Energy Regulatory Commission),” Consunji said in an interview during the recent briefing on the power situation in Western Visayas on Thursday.

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