Prices of "B" or domestic sugar closed higher this week, hitting between P1,064 to P1,178.79 per 50-Lkg., among the highest for the current crop year.

Archie Amarra, executive director of the Sugar Master Plan Foundation Inc., said the current price levels indicate that supply is limited, thus there is competition for stocks, driving the prices up.

Amarra is hopeful that prices will remain above P1,000 per Lkg., but still no one can predict the future prices, he said.

Peso closes at fresh high

MANILA - The peso closed at a fresh high of 48.10 to the dollar yesterday its best finish in nearly six years, amid strong dollar remittances and the influx of foreign money into the local financial markets.

Yesterday's close was the highest since March 9, 2001, when it ended at 48.065.

The Bangko Sentral ng Pilipinas said the Philippines posted a balance of payments surplus of $731 million in January down from a surplus of 1.925 billion for the same period last year.

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