Sugar output up, so are prices
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 percent to 1.2 million metric tons 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 percent 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 kilogram, 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. INQ
