March 4, 2024
Philippine News Agency | https://www.pna.gov.ph/articles/1220052
MANILA – The Sugar Regulatory Administration (SRA) on Monday said the country’s supply of refined sugar is stable despite the permanent closure of the Central Azucarera Don Pedro Incorporated (CADPI) refinery in Batangas on Feb. 28.
In a radio interview, SRA Administrator Pablo Luis Azcona said the agency’s target to keep a buffer stock has been implemented.
"Sa ngayon, iyong availability po ng (For now, the availability of) refined sugar in the country is very ample, our supply has been stable the whole year," he said.
He added that the supply stability sustains the predictable market prices of refined sugar.
According to the latest Department of Agriculture (DA) Bantay Presyo (price watch), the retail price range of refined sugar is around PHP72 to PHP100 per kilogram in Metro Manila.
Azcona clarified that CADPI's operations already ceased earlier in 2023, causing a supply inconvenience in the portion of Luzon.
He, however, said other refineries in Tarlac, Tuguegarao, and Bukidnon, among others, may cover the supply loss.
"Five out of 14 [refineries] can supply the premium demand ng mga (of the) soft drink companies, for the retail o sa palengke (or in the market), we have 13 other refineries that can take over the loss of CADPI," Azcona said.
CADPI's production reaches around 18,000 to 19,000 bags of refined sugar per day.
The CADPI, a subsidiary of Roxas Holdings Incorporated (RHI), was forced to terminate employees following its shutdown due to "serious business losses." (PNA)