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Government working to stabilize supply and price of sugar

posted Jan 25, 2010, 10:34 PM by Leonard Flores
Koronadal City (January 25, 2010) - There is adequate supply of sugar in the market.
 
Prices, though, have continued to spiral due to heightened demand for sugar this year, judging the rate of withdrawaks from the mills, plus the fact that the world sugar price is at 28-year high, according the Sugar Regulation Administration.
 
Below is the data on the price trend of sugar commodity in Region 12:
 
Price Today (January 25, 2010): P51/kg (white); 41/kg (brown)
Prevailing Price (January 2010): P47/kg (white); 36/kg (brown)
Last Month (December 2009): P43/kg (white); 33/kg (brown)
Three Months Ago (October 2009): P40/kg (white); 32/kg (brown) 
Last Year (January 2009): P32/kg (white); 24/kg (brown)
 
To address the increase in consuemr demand, the government through the National Food Authority plans to import 150,000 metric tons of sugar into the country.  The importation aims to temper the price of sugar and bring prices back to reasonable levels.
 
Target date of the arrival of importation is on May 01 until August, after the sugar milling season.
 
All offices in DTI Region 12 are conducting regular monitoring of price and supply of basic neccessities and prime commodities including sugar.
 
In the event of a clear violation of Price Act, Republic Act No. 7581, DTI enforcement officers are expected to recommend to the concerned Provincial/City Directors for subsequent filing of formal charges.
 
The Price Act defines the illegal acts of price manipulation.  These acts refers to hoarding, profiteering, and cartel.
 
The above illegal acts can be committed by persons habitually engaged in production, manufacture, importation, storage, transport, distribution, sale or other methods of disposition of basic necessity and prime commodity.
 
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