Millgate sugar prices were still below P3, 000 per Lkg this week but Sugar Regulatory Administrator Pablo Azcona on Friday, October 6, 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.
The prices this week were: Victorias Milling Co. in Victorias City – P2,803.35, First Farmers Holding Corp. in Talisay City – P2,789.90, Hawaiian Philippine Co. in Silay City – 2,788.88, Central Azucarera de La Carlota – P2,721.92, Binalbagan Isabela Sugar Co. in Binalbagan – P2,720.28,and Southern Negros Development Corp. in Kabankalan City – P2,710, Azcona said.
The average millgate sugar prices in the Visayas were at P2,720.48 per Lkg on October 1, P2,745.06 – September 24, P2,702.73 – September 17 and P2,825.35 – September 3, Azcona added.
The winning bidders now are the traders and not the mills, which was the case at the start of the milling season, he said.
That is a good sign, Azcona said.*