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.  

Coscolluela also dismissed the claim of NFSP that SRA “acted prematurely” in issuing Sugar Order No. 11 titled “Conversion of ‘C’ Sugar Produced During the Month of December 2007 to ‘B’ Sugar.” 

SRA should have waited until June to convert the reserve sugar, Rojas earlier said, adding that the conversion should be done only at the most appropriate time, and with proper coordination with the Sugar Alliance of the Philippines.

But Coscolluela reiterated that the Sugar Board consults the industry stakeholders before approving any Sugar Order.

This week,           Binalbagan-Isabela Sugar Company sold its stocks at P1,150; Hawaiian-Philippine Company, P1,162.62;  Victorias Milling Company, P1,195; Lopez Sugar Corp., P1,192; Sagay Central Inc., P1,195; Passi I, P1,162.82; Passi II, P1,150.08;  Capiz, P1,155; and Bais, P1,170 (high) and P1,146.85.

The “B” sugar was sold between P1,182.52 and P1,236.01 on April 17, and week before that, between P1,140.45 and P1,195 per Lkg.

On April 30, prices in Negros and Panay ranged from P1,160 to P1,240 per Lkg but at this week’s (May 8) bidding, between P1,150 and P1,195.*NLG

back to top