DTI Keeps SRP for Sugar at P52 Per Kilo

MANILA, Philippines – The standard reference price for sugar has been maintained at P52 per kilo as imports have started coming and the milling season is just around the corner. Prices of other basic commodities are also stable and are expected to hold up even during the Christmas season.

Trade and Industry undersecretary Zenaida C. Maglaya reported to the press after the meeting of the National Price Coordinating Council (NPCC).

“There will be no adjustment in the SRP for sugar,” Maglaya said. Prices of sugar per bag is between P2,500 to P2,600 per 50 kilogram bag.

Retail prices, however, of sugar have started climbing up to P54 to P60 per kilo, but both the DTI and the Department and Agriculture said they are going to enforce the P52 per kilo price and those selling at more than P52 should better show their receipts to justify their prices.

“Situations have somehow stabilized and imports are coming in and some mills are starting to operate this month to October so, as mills operate then sugar prices should start going down,” she said.

Of the approved 100,000 metric ton sugar importation, 67,000 MT are already in the Manila ports.

“The P56 per kilo sugar is not justifiable,” she said.

Maglaya further said that the outlook for basic commodities is good and that prevailing prices are expected to hold till end this year. “So far none of basic goods producers said there could be increases so we don’t see prices going up to the end of the year,” she said. Even the flour millers, which said, they are going to impose a second round of price hike has not yet done that.

For the “Noche Buena” foods, Maglaya said they are going to meet again with the processed food producers to see the outlook for December.

The usual “Noche Buena” foods include spaghetti, pasta, fruit cocktail, tomato sauce, chicken and hams. Prices of these regular Christmas food normally picks up starting in November.

But so far, prices of pork and chicken have remained stable.

Manila Bulletin