The Sugar Regulatory Administration has suspended the release of imported sugar from warehouses amid a drop in the farmgate price of local sugar.
In a resolution issued Sept. 26 but made public only yesterday, the SRA board decided to hold in abeyance all applications of conversion and maintain the classification of all imported sugar as “C” or reserved sugar.MANILA, Philippines — The Sugar Regulatory Administration has suspended the release of imported sugar from warehouses amid a drop in the farmgate price of local sugar.
“When the sugar comes into the country, automatically reserved for domestic . Owners have to apply for reclassification… We will hold reclassification until prices stabilize,” SRA Administrator Pablo Luis Azcona said in a briefing with reporters. Azcona noted that the farmgate price of local sugar has dropped to P60 per kilo, but admitted that retail prices remain as high as P110 due to overpricing.
Based on the Department of Agriculture monitoring in Metro Manila markets, the retail prices of refined sugar ranged between P82 and P110 per kilo; washed sugar, between P79 and P95 per kilo and brown sugar, between P75 and P95 per kilo. The Philippines has raised the alert level to 3 in Gaza as heavy Israeli bombardments continue to hit the tiny but densely-populated...
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