Producers ‘happy’ over sugar rebound
As of mid-December, the public market price monitoring of the Department of Agriculture showed that washed sugar sells from P85 to P92 per kilogram
Daily TribuneAs of mid-December, the public market price monitoring of the Department of Agriculture showed that washed sugar sells from P85 to P92 per kilogram
Sugar producers are "happy" to see prices of the commodity bounce back after a nearly monthlong downward slump, said Negros Occidental Rep. Emilio Bernardino Yulo, a former board member of the Sugar Regulatory Administration.
"Prices have breached the P3,000 per 50-kilo bag which will make it a little bit profitable for our farmers who were on their toes in the past weeks, seeing the downtrend in sugar prices," Yulo said Thursday.
As the current price is "comfortable enough to ease the fears among the planters," Yulo said the national government should continue to temper consumer prices.
He warned those who capitalize on the sugar issue that "there is no reason for retail prices to run away as we have enough sugar supply and the milling season is still ongoing."
"We urge the government to take a look at the entire supply chain to determine who is making a windfall from the high retail prices because it is not the sugar farmers," he said.
As of mid-December, the public market price monitoring of the Department of Agriculture showed that washed sugar sells from P85 to P92 per kilogram.
Lift VAT
The government, Yulo said, should also consider lifting the reformed value-added tax as a means to temper retail prices on consumer items like sugar.
"With this new development, I am sure the farmers will openly welcome and usher in the new year with positivity and hope," he added.
He belied claims that planters earn from the high cost of retail sugar prevailing in metro areas. He said in the past weeks, "planters barely break even with the slump in millgate prices."
Last week, the SRA issued a memorandum order dated 20 December and signed by Agriculture Senior Undersecretary Domingo Panganiban announcing the importation of 64,050 metric tons of refined sugar to stabilize prices.
Panganiban said President Ferdinand Marcos Jr., who also serves as the Agriculture Secretary, approved the imports citing the high sugar, confectionery items, and dessert prices in November.
