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.

At Thursday's bidding, Binalbagan-Isabela Sugar Company disposed its stocks at P1,361.10 (high) and P1,110.58 (low) for a total volume of 17,991.72 Lkgs.; Central Azucarera de La Carlota, P1,136.10 (high) and P1,132.88 (low), 1,203.28 Lkgs; Hawaiian-Philippine Company, P1,140.80 (high) and P1,137 (low), 238.75 Lkgs.; SONEDCO, P1,102.38, 10,028.85 Lkgs.; Victorias Milling Company, P1,090; Lopez Sugar Corp., P1,090; and Sagay Central Inc., P1,100; CADP, P1,105 (high) and P1,064 (low);

BUSCO, P1,100; Passi I, P1,178.79; Passi II, P1,155.11; Pilar, P1,140.05; and Bais, P1,111.01 (high) and P1,105 (low).

In February 8, prices ranged from P1,060 to P1,138.58 per Lkg while the week before last, from P1,041.39 to P1,101.22 per Lkg.

Millgate prices in January 4 were from P1,204.25 to P1,149.68 per Lkg. Prices dropped to a low of P930 per Lkg several weeks after the start of the milling season in September, but in October, VMC sold at P1,070 per Lkg., HPCO, P1,212; at DOLE, at P1,196.

Enrique Roxas, National Federation of Sugarcane Planters president had earlier said that sugar producers are aiming for a composite price of P1,000 per Lkg.

This can be achieved if "B" sugar sells at P1,200 per Lkg to make up for the low prices of the sugar allocated for the US and world markets, he said.*NLG

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