Latest Sugar Regulatory Administration data showed that the average retail price of refined sugar as of May 13 in wet markets reached P69.71 per kg, P17.07 higher than last year’s P52.64 per kg.
SRA data also indicated that the average wholesale price of refined sugar remained above P3,200 per 50-kg bag for two consecutive weeks. As of May 13, the average wholesale price of refined sugar reached P3,215.38 per LKg, 40 percent higher than the previous year’s P2,305 per LKg. SRA Administrator Hermenegildo R. Serafica said the “runaway sugar prices” could have been prevented if the government’s import program had not been stalled by legal challenges.
“As to volume of first arrival, the SRA would have no knowledge as to purely private transactions contracted by prospective importers.”
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