Philippines may import sugar, impose suggested retail price

ABS-CBN News

Posted at Jul 11 2018 12:21 PM

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MANILA -- The Department of Agriculture may import up to 200,000 metric tons of sugar to address demand, and may impose a suggested retail price on the sweetener, Secretary Emmanuel Piñol said Wednesday.

Of the total sugar imports from Thailand, 100,000 metric tons will go to factories, 50,000 to confectioneries and 50,000 metric tons to public markets and groceries, Piñol told DZMM.

Sugar prices recently rose to about P53 pero kilo from P43, he said.

"Projected for this year na kapag hindi nag-import, magkakaroon ng kakulangan ng supply sa merkado, but right now hindi pa naman kulang," he said.

(It was projected that if we don't import this year, there will be a shortage in supply in the market, but right now, there's no lack.)

Coca-Cola Philippines earlier told its consumers that its regular variant would be available "as soon as possible" as it worked with regulators to address demand for refined sugar.

Piñol said the government would also look into imposing a suggested retail price for sugar to stop traders from overpricing the commodity.

"SRP will limit the increase of the price to only 10 percent within a period of time," he said.