Guv still hopes for P3K millgate price for sugar to sustain Neg. Occ. growth

Gov. Eugenio Jose Lacson said on Monday, October 9, that he hopes millgate sugar prices hit P3,000 per LKg bag so that the momentum of the economic growth in Negros Occidental and Bacolod City continues.

The governor was reacting to the statement of Negrense Chef Margarita Araneta Forés on Saturday that Bacolod City and Negros Occidental are destinations of growth.

Fores, who is upbeat about the local economy, opened her second Cibo restaurant in Bacolod at SM City on Saturday

Lacson noted that other national brand restaurants have also been opening in Bacolod.

Investors will not invest in an area if they will not earn in return, Lacson said.

“It does speak well of the economy here in Negros Occidental that is why I hope the sugar industry maintains an average P3,000 per LKg bag because the sugar industry is still the province’s main economic driver,” he said.
“We’re not totally dependent on sugar but it’s a very big contributor to the economy of Nergros,” Lacson added.

Millgate sugar prices were still below P3, 000 per Lkg last week, but Sugar Regulatory Administrator Pablo Azcona said he is hopeful it will increase.

He said that millgate sugar prices in some mills increased on Wednesday and Thursday, October 4 and 5, which is promising.*

Secured By miniOrangeSecured By miniOrange