Negros Occidental Governor Eugenio Jose Lacson said on Friday, Oct. 17, that he will support whatever is needed to bring sugar prices back to a comfortable level.
He said the current low price is definitely not good for Negros Occidental, as sugar is still the main driver of its economy.
The price of sugar recently plunged to around P2,200 per 50 kilogram bag. This level is nearly P300 below the estimated production cost, a joint resolution issued early this week by Negros Island Region (NIR) congressmen said.
The resolution called on the Sugar Regulatory Administration (SRA) to immediately act on the matter.
Lacson said sugar prices should at least go back to the general average of last milling season, which was at P2,700 to P2, 800 per Lkg, although the ideal price would be P3,000.
He warned that small farmers in the rural areas will suffer the most from the drop in sugar prices, and this situation will also affect next year’s crop.
Lacson said most likely some farmers may not plant sugarcane or may opt to use minimum fertilizer, which will cause a drop in production.
“I understand that this week it (the prices) went up a few pesos so we’ll see because we also have sugar leaders who claim that this is being manipulated by traders,” he said.
“It is good that the NIR congressmen have banded together and made it a national issue, so let us observe in the next couple of weeks if there will be an improvement in the prices,” he added.*