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The Sugar Regulatory Administration said it supports the move to investigate the alleged manipulation of traders in sugar prices .In Bernadette Reyes’ Tuesday report on 24 Oras, the SRA said the country has enough sugar supply this Christmas season so its prices should be retained.The per kilo prices of brown sugar range from P65 to P85 while white sugar costs up to P90 per kilo.
The United Sugar Producers Federation of the Philippines claimed that traders are manipulating sugar prices by keeping the supply they bought for a low price to increase its cost.“The sugar mills, they have huge bodegas. They can keep the sugars and starve the market artificially para pag-akyat, come January, February, aakyat yung presyo kasi wala ng, supposed to be wala ng asukal sa market.
Sugar Prices Pablo Luis Azcona UNIFED Sugar Supply
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