The Sugar Regulatory Administration expects prices of refined sugar to stabilize at between P70 and P80 per kilo by November, SRA Administrator David Alba said Tuesday, September 20.
“In essence, there is supply, we see prices stabilizing by next month when the imported sugar starts
coming in,” he said.
He said 150,000 MT of imported sugar is expected to arrive in the country before November 15.
“We continue to monitor the production output but we are happy to report that the mills in Negros are efficiently milling so we expect to be in time for the November opening of refineries”, he added.
He said the country’s total physical raw sugar in stock is 134, 526.72MT and the total physical refined sugar is 143,665.05 MT.
The current weekly demand for raw sugar is 6,222 MT and 6,899 MT for refined, he said.
Raw sugar is currently selling any an average of P3,300 per 50 LKg and refined at P4,650, Alba said.
The current retail prices of refined sugar are from P90 to above P100 per kilo.*