Sugar millgate prices have dropped by P800 per 50 kilobag, Rep. Emilio Yulo III (Neg. Occ., 5th District) said Thursday, November 3.
The price of sugar has dropped from a high of P3, 800 per 50-kilogram (Lkg) bag
to P2, 800 to P2,900, he said.
It is driven by a number of factors, he said, pointing out that the sugar produced this year is a lot higher compared to last year.
Refined sugar from 29 percent down at the star of the crop year is now 28 percent up, Yulo also said.
The lower millgate rates should bring down retail prices but that depends on the retailers and not the producers, he said.
“We call on the DA to implement a program to bring down the prices of fertilizer and other farm inputs. Government should also take a look at subsidizing fuel for the agricultural sector,” he said.
Yulo also said there is no need to import more sugar for this crop year.*