Metro Manila (CNN Philippines, August 1) — The prices of sugar are not expected to increase any time soon, according to the Sugar Regulatory Administration (SRA).
“We already see ₱85. It’s been steady. I think for almost six months na. Although the high na ₱110, nandiyan pa [is still there], what we noticed is it all depends on the branding,” SRA Administrator Pablo Azcona said Tuesday.
“There is no reason for it (price) to go up,” he added.
Based on its latest supply and demand situation report, the SRA said the current sugar supply is more than enough to sustain existing demands.
The SRA reported physical stock of 262,328.30 metric tons (MT) of raw sugar, 448,106.45 MT of refined sugar, and 148,264.29 MT of molasses as of July 16.
Meanwhile, the Department of Agriculture (DA) also reported that as of July 31, the retail price of refined sugar in Metro Manila markets ranges from ₱86 to ₱110 per kilo, washed sugar from ₱82 to ₱90, while a kilo of brown sugar is between ₱78 to ₱90.
The SRA adds local production of raw and refined sugar was not affected by Super Typhoon Egay.
