Prices of sugar seen to go down starting next month
The prices of sugar in the country may start to go down next month with the arrival of imported stocks next week, Sugar Regulatory Administration (SRA) said.
In a report in Manila Bulletin, SRA Board Member Roland Beltran said that portions of the 200,000 metric tons (MT) of sugar to be imported by private traders will start arriving in the country next week.
“The importation of 15,000 bags of refined sugar will land first week of July and every week thereafter totalling 200,000 bags for July 2018,” Beltran said in the report.
The expected shipment was imported by one importer alone.
As of June 22, the price of of raw sugar per 50-kilo bag in Metro Manila already surged to as high as P2,270 and averaged around P2,148.00, while the cost of refined sugar went up to P3,020 per 50-kilo bag.