Farmgate price of sugar down by P400
FARM gate price of sugar is down to P1,634.58 per 50kg as of week-ending October 7, 2018 from a high of P2,003.60 per Kg at the close of milling last July 2018, almost P400 difference or an 18 percent drop in prices, the Sugar Regulatory Administration (SRA) said in a press release yesterday.
Since the start of the milling season on September 1 and the issuance of Sugar Order No. 2 (SO 2) on Sugar Import Program for Crop Year 2018-19 on October 1, prices of sugar has been on a downward trend, SRA said.
SRA said it continues to monitor prices in the supermarkets and wet markets and those selling higher than prevailing prices are asked to explain.
SRA has also written the supermarkets giving them the contact details of the mills and refineries so they can order their sugar directly at a lower cost.
The agency said it has been speaking to planters associations, planters federations, and millers and they have agreed to make their sugar available at their offices to sell directly to the ordinary consumers at P50 for refined, P45 washed and P41 raw.
SRA is also encouraging planters’ associations to sell directly to the local groceries in their area.
SRA is also selling sugar at P48 refined and P40 raw/brown sugar in the “tienda malasakit” stores of the Department of Agriculture during weekends to make sugar available to the ordinary consumers at lower prices.
SO 2 was signed by the SRA Board as compliance to the directive of President Rodrigo Roa Duterte under Administrative Order No. 13, removing non-tariff barriers and streamlining administrative procedures on the importation of agricultural products.
For this crop year, starting September 1, with seven sugar mills and five sugar refineries now in operation, local raw sugar production has reached 1,623,040 bags of 50kg while local refined sugar production has reached 928,508 and more mills and refineries are scheduled to open in the coming weeks which will add to our available supply.
As of 2:30 p.m. Friday, 64,475 metric tons or 1,289,500 bags of 50kgs of sugar is on its way to the ports under SO 2./PR