- GILBERT BAYORAN
The Sugar Regulatory Administration (SRA) doused speculations of lower sugar prices this milling season, stressing that it will use its regulatory powers to maintain pricing that is profitable to sugar farmers.
The assurance was made by SRA chief Pablo Luis Azcona in the wake of reports that sugar prices may not reach P2,400 to P4,000 per sack, as it was last year.
The recent speculations on possible lower prices of sugar created a negative reaction in the industry, Azcona admitted.
He said that President Ferdinand Marcos Jr. has given them the mandate to “stop all the speculations.”
“The effort of the SRA is to peg the price of raw sugar at P3,000 per 50 kilo-bag,” Azcona, who spoke at the 69th Philsutech National Convention in Cebu City Wednesday, said.
“This is to keep the price of retail refined sugar at P85 per kilo,” Azcona pointed out, adding that the price “is profitable for the farmers.”
Stressing that the SRA is a regulatory body, the SRA chief said that all sugar that arrives in the country is classified as C, or reserve, and the government agency has the power to convert it into domestic sugar.
“If the need arises, we will do our regulatory function,” Azcona stressed.
He also pointed out that the country has enough stocks of refined and raw sugar.
When the milling operations started last year, Azcona reported that it produced 27,000 metric tons of refined sugar.
“Right now, it is 190 percent better. Hopefully we can maintain the prices at P3,000,” he added.
A sugar planter himself, Negros Occidental Governor Eugenio Jose Lacson said he is hopeful that the prices of sugar will remain at P3,000 per bag, amid concerns that it will go down this milling season.
“It would be nice if we could maintain the average price per bag at P3,000,” Lacson said.
The sugar milling season will kick off on the first week of September in Negros Occidental./GB
