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Bacolod City, Philippines Monday, August 15, 2016
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SRA canít peg sugar prices

Sugar Regulatory Administration OIC-Assistant Administrator Ignacio Santillana said the expected price of domestic sugar cannot yet be pegged to increase or decrease.

“We can’t expect yet  the price of sugar to be stabilized as the country is still beginning  its milling season and the extent of the effects of the previous continuous drought still has to be evaluated,” Santillana said.

Slight increases in the prices have been observed since last year, but these are just normal and not alarming, he said.

The average retail price of raw sugar is at P44.16, washed at P49.69, refined P54.43 and Muscovado at P66, he said.

For  two crop years, the Philippines had only been producing domestic  sugar, and last year the country was reminded fill its US quota  of 138,000 metric tons, he said.

This was the reason why the country had to import sugar to balance the local demand. Last cropping season, the production dropped to another 3.48 percent on top of crop year 2014-15’s slump of 3,78 percent, he added.

Before the year ends, we hope for a steady increase in production, he said.*KBC

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