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BIOFUELS
Acct'ng of "D" Sugar
Secretary Arthur C. Yap of the Department of Agriculture (DA) has directed the Sugar Regulatory Administration (SRA) to submit a suggested retail price (SRP) for sugar amidst reports that refined sugar prices in some Metro Manila outlets had reached a high of PhP 60.00 per kilo, even as a Bureau of Agricultural Statistics (BAS) report as of January 23 reflected a prevailing price of P 52.00 on refined sugar and P 44.00 per kilo on raw or brown sugar. “The consuming public should be informed about the SRP for sugar to prevent overpricing by speculators and unscrupulous wholesalers and retailers who are taking advantage of the current sugar situation”, Yap stressed.
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In response to inquiries regarding the price and availability of sugar in the local market, the Sugar Regulatory Administration assures the public that the Philippines has adequate domestic supply as the industry enters peak milling season for Crop Year 2009-2010. Retailers have warned, however, that they will be forced to stop selling sugar if they are forced to sell their new stocks at the current price ceiling of PhP38.00/kg. Industry observers, likewise, have expressed fears of a “drying up” of retail outlets in Metro Manila and Luzon if current stocks are not allowed to seek reasonably remunerative levels attuned to current market conditions. READ MORE ... |
The sugar industry, through the sugar mills and its industry organizations, quickly manifested its high sense of social responsibility by donating a total of 900 bags of sugar and P 700,000 in cash donations for the victims of typhoon “Ondoy” in the National Capital Region (NCR) as of Friday, October 9, 2009.
Estimated sugar production in crop year 2009-2010 is 2.16 million metric tons and the country’s ending inventory of domestic sugar is back to a seasonably normal level.