- GILBERT P. BAYORAN
The Sugar Regulatory Administration is investigating sugar mills, traders, and importers to determine if there is some abnormality in their dealings as sugar was traded below P3,000 per 50kg-bag that the SRA had forecasted.
While two sugar mills had prices a little beyond P3,000, SRA chief Pablo Azcona said some were between P2,700 and P2,550, which he described as “a bit surprising”.
SRA is looking into what could have caused price depression last week, Azcona said, adding that they maintained prices at a comfortable level of P3,000, which is equivalent to P60 per kilo at farm gate raw price, and P85 per kilo in Metro Manila.
“We have been pushing for the P3,000 price, as I feel it is the fair market price and this has been echoed by the administration. It is also an incentive for farmers to plant more and be more sustainable,” the SRA chief said.
“Someone is definitely making a scenario, and we will not take this sitting down,” Azcona said.
Millgate sugar price at Hawaiian Philippine Company and First Farmers Holding Corporation is slightly above at P3,000, while the Victorias Milling Company, Universal Robina Corporation, and Sagay Central sold between P2,550 to P2,700 per 50kg-bag, he further said.
On the other hand, Negros Occidental Gov. Eugenio Jose Lacson said he is hoping that prices of sugar will maintain at P3,000, stressing that SRA officials, who are mostly from Negros, should be aware of what the sugar planters are expecting.
As to the different prices of sugar among millers, Lacson said the planters will always send their canes where they think they will make more money./GB
