By John Noel E. Herrera
Sugarcane planters in the province of Iloilo are pushing for a Suggested Retail Price (SRP) on sugar to help their sector and the economy as well.
In a radio interview, 3rd District Board Member Matt Palabrica said setting the SRP on sugar is advantageous as it would help regulate prices in different store locations or selling channels.
Palabrica added that this would also favor the consumers because they would not be greatly affected by price increases in sugar.
The Department of Agriculture (DA) will also conduct a stakeholders’ consultation about the regulation of sugar prices in the local markets.
DA Undersecretary Kristine Evangelista said that the retail price of refined sugar in the market is already at P115 to P120 per kilo.
Evangelista said it is important to impose the SRP on sugar to avoid the unnecessary price increases.
She noted that the retail price on sugar has already doubled compared to the prevailing price a year ago at P52 per kilo.
“As of now, our prevailing price is at P90 a kilo. After looking into the supply situation, we are now ready to discuss with our stakeholders the imposition of SRP on sugar,” Evangelista added.
An enforcement team will also be created to monitor compliance in the market once a benchmark price is determined.
A show cause order will be issued to those who will fail to comply with the SRP.
July 2022 data from DA-6 indicated that the price of brown sugar in the region is at P55 per kilo, while washed sugar is at P70 per kilo, and refined sugar is at P77 per kilo.
But Palabrica also said that as of August, prices of sugar in Iloilo province alone are already at P90 to P100 per kilo.
