The Sugar Regulatory Administration is set to release an order this week re-allocating sugar supply intended for exportation to the domestic market, to mitigate the rising prices of sugar in the country, SRA Administrator Ma. Regina Martin said yesterday.

An SRA report showed that the millgate prices of “B” or domestic sugar shot up to P1,684.03 per lkg last week while it was only P1,424.25 in the same period last year or an increase of 18.24 percent.

It added that the price of “A” or export sugar also increased to P891.66 per lkg last week compared to its price in the same period last year which was only at P650.35.

In Bonondo and Divisoria in Manila, the prevailing wholesale price of raw sugar last week was at P1,850 per lkg, while it was only P1,780 per lkg a week before.

The wholesale price of refined sugar also hit P2,250 per lkg last week compared to P2,050 per lkg the week before.

Refined sugar was selling at P50 a kilo and raw sugar at P40, the SRA report said.

Martin said the country has enough sugar supply with the country having produced more this crop year than initially estimated by the SRA. It is consumption that has suddenly increased, she said.*APN

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