2nd Update
MANILA, Philippines — Several of the largest supermarkets in the Philippines have agreed to the suggested retail price of P70 per kilo of sugar amid concerns over supply and high prices in the country, the Palace disclosed Friday.
According to the Office of the Press Secretary (OPS), Executive Secretary Victor Rodriguez, through orders from President Ferdinand “Bongbong” Marcos Jr., facilitated a series of talks with the owners of Robinsons Supermarket, SM Supermarket, Puregold Supermarket, and S&R Membership Shopping.
The agreed price of sugar will take effect in Metro Manila next week and will be available until the supply lasts, according to the supermarket owners.
Current sugar prices
As of August 5, supermarkets sold refined sugar for P70.50 to a high P115 per kilo, according to the Sugar Regulatory Administration’s (SRA) price monitoring.
Wet markets sell refined sugar for P90 to P100 per kilo, said SRA.
Press Secretary Trixie Cruz-Angeles would clarify in a press briefing on Friday afternoon that S&R Membership Shopping is not included in the participating businesses since it is a wholesaler.
Rodriguez said SM stores have committed to selling their inventory on washed sugar at P70 per kilo, while Robinson’s Supermarket pledged to unload 1 million kilos of sugar at P70 per kilo in Metro Manila.
Further, Rodriguez said Puregold also committed to making 2 million kilos of refined sugar available at P70 per kilo. But Cruz-Angeles would later clarify that Puregold committed only 1 million kilos of refined sugar instead of two.
“This will give ordinary Filipinos access to cheaper sugar with more than 3 million kilos available in the market next week,” Rodriguez was quoted as saying in a press release of the OPS.
Moreover, Rodriguez said the Department of Trade and Industry (DTI) will monitor the compliance of the participating retailers to the agreed purchase limit of 1 kilo per consumer “to prevent possible household hoarding by some enterprising consumers.”
“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’ and love of country,” he added.
Assistance to food manufacturing industry
Meanwhile, Rodriguez said the Victorias Milling Company has also pledged 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 like Coca-Cola, Pepsi, and RC Cola.
“This is to avert a possible temporary halt in their operations that could result in the displacement of their workers,” Rodriguez said.
“Victoria’s milling also allotted 500,000 kilos of sugar for consignment in Kadiwa stores in the populated parts of the Visayas,” he added.
Marcos and sugar industry stakeholders agreed to import 150,000 metric tons of sugar during a meeting on Thursday.
Marcos said the Philippines might import sugar around October should the supply be depleted. The President, however, stressed that the volume would be smaller than the proposed 300,000 metric tons of sugar he rejected earlier.