DA eyes SRP for sugar as prices rise again

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MANILA, Philippines — With sugar retail prices exceeding the P100 per kilogram level again, the Department of Agriculture is considering setting a suggested retail price (SRP) for the sweetener.

“Most likely, we will be able to release that before November. The sooner we can implement this, the more we can help our consumers,” Agriculture Assistant Secretary Kristine Evangelista said.

She added that they were looking at various factors like the supply of local and imported sugar and landed cost (cost of shipping a product) before coming up with the SRP.

“As for the prices, most likely within the week, we will be able to have the exact price that is equitable not only for importers who are helping lower the prices but also for the consumers,” Evangelista said.

As of Oct. 7, refined sugar in supermarkets retails from P70 to P134 per kg, against P50 to P60 per kg around the same period last year, based on the Sugar Regulatory Administration’s price monitoring.

Public wet markets, on the other hand, sell the commodity from P98 to P110 per kg, from the previous P50 to P58 per kg.

—JORDEENE B. LAGARE

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