March 7, 2022
The Star | https://bit.ly/3MKNAsl
MANILA (Philippine Daily Inquirer/Asia News Network): The country’s sugar output continued to increase in February, and yet average prices of this sweetener in Metro Manila have also shot up due in part to soaring fertilizer prices.
Data from the Sugar Regulatory Administration (SRA) showed the country’s raw sugar production from Sept 1, 2021 to Feb 20, 2022, rose by 3.67 per cent to 1.2 million metric tonnes from 1.1 million in the same period a year ago.
In terms of 50-kilogram bags (LKg), raw sugar output climbed year-on-year to 23.7 million from 22.9 million.
The SRA data also indicated that the country produced 423,633.50 MT of refined sugar over the same close to six-month period, up by 38.7 per cent from 305,430.70 MT during the previous period.
Selling prices usually go down when supply increases but SRA’s price monitoring showed that in Metro Manila, the average retail price of sugar products has actually risen.
The SRA data showed that as of Feb 23, refined sugar was selling in supermarkets for P64.33 per kilogramme, higher than P64.30 per kg recorded as of Feb 16.
Refined sugar in public wet markets likewise rose week-on-week to P67.71 per kg from P67.29 per kg.
Meanwhile, the price of raw sugar in Metro Manila supermarkets is now P50.93 per kg from P50.92 per kg, while in wet markets, raw sugar is now sold at an average of P50.57 per kg from P50.14 per kg.
Last month, the SRA said it would issue show cause orders to vendors selling sugar at prices above the ceiling set.