The average retail price of refined sugar continued to rise due to the uncertainty created by the suspension of the government’s import program amid the tightening supply of the sweetener.
Latest Sugar Regulatory Administration price monitoring reports showed that the average price of refined sugar in Metro Manila wet markets as of February 16 reached P67.29 per kilogram , P0.22 higher than the P67.07 per kilogram recorded on February 9.
Historical SRA data showed that the price of refined sugar in Metro Manila reached unprecedented levels. The last time the country saw prices breach the P65 per kg mark was in crop year 2017-2018, when the Philippines also grappled with supply tightness. “SRA received instructions from the Department of Agriculture to temper the current level of high local sugar prices that it considers at this time a sugar import program,” SO 3 read.
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