Supermarkets agree to lower sugar price to P70 per kilo
The country's leading supermarkets have agreed to bring down the price of sugar to as low as P70 per kilogram, Malacañang announced Friday.
This developed after Executive Secretary Victor Rodriguez, upon the instruction of President Ferdinand “Bongbong” Marcos Jr., held a series of talks with owners of Robinsons Supermarket, SM Supermarket, and Puregold Price Club, the Office of the Press Secretary (OPS) said.
The OPS said the supermarket owners heeded Marcos’appeal to lower the price of sugar to PHP70.
“They all agreed to the suggested retail price of P70 per kilo of sugar, from a high of P90-P110 per kilo,” it said in a statement.
Marcos expressed gratitude to “selfless” supermarket owners who agreed to offer cheaper sugar in their groceries and stores, amid the sudden spike in sugar prices in the market, Rodriguez said.
“The President lauded the selfless response from these businessmen who are sacrificing not just their own inventory but also their projected business profits for the sake of the ordinary Filipinos at this time when the country is besieged by many problems,” Rodriguez said.
“This is a classic display of the indomitable Filipino spirit of bayanihan (teamwork) and love of country,” he added.
On Wednesday, Marcos said the government is negotiating with traders to bring down sugar prices in the country.
Rodriguez noted that SM stores have committed to sell their inventory on washed sugar at PHP70 per kilo, while Robinsons Supermarket and Puregold pledged to unload a million kilo each at PHP70 per pack of one kilo.
Rodriguez said the latest development will give consumers access to cheaper sugar with over three million kilos available in the market starting next week.
“The availability of PHP70 per kilo of sugar is good until supply lasts, according to the supermarket owners. The agreed selling price of PHP70 per kilo will likewise be monitored by DTI (Department of Trade and Industry),” the OPS said.
To date, Savemore Market is the fastest growing format of SM Markets, serving as the umbrella brand for SM Supermarket, SM Hypermarket and Savemore and its sister company, Alfamart.
It has over 1,500 stores composed of 206 Savemore stores, nine Savemore Express stores, 60 SM Supermarket stores, 53 SM Hypermarket stores, and 1,201 Alfamarts.
Robinsons Supermarket nat i onw i de.
Puregold is a chain of supermarkets that has approximately 280 operating stores and over 20 food service stalls nationwide.
Monitor compliance
Rodriguez said the DTI will monitor participating retailers’compliance with the agreed purchase limit of one kilo per consumer to prevent “possible household hoarding by some enterprising consumers” and ensure that all consumers will be able to avail of the cheap-priced sugar.
Rodriguez added that there was also a pledge from Victorias Milling Company (VMC) to help traders in the food manufacturing industries by making available 45,000 sacks at 50 kilos per sack of bottler-grade sugar for soft drinks companies.
“This is to avert a possible temporary halt in their operations that could result to the displacement of their workers,” he said. “Victorias Milling also allotted 500,000 kilos of sugar for consignment in Kadiwa stores in the populated parts of the Visayas.”
VMC is an integrated raw and refined sugar firm located in Barangay XVI, Victorias City in Negros Occidental. Founded on May 7, 1919 by Don Miguel J. Ossorio, it is among the earliest modern sugar mills in the country.
Marcos earlier met with members of the Philippine Chamber of Food Manufacturers, Inc. (PCFMI) to discuss possible solutions to the country’s looming sugar supply shortage.
Marcos, who also serves as chair of the Sugar Regulatory Administration, previously bared his plan to allow food manufacturers to directly import sugar. ( PNA)
is a division of Robinsons Retail Holdings, Inc. and the second largest supermarket chain in the country with 274 stores