SRA supports setting SRP for sugar
Sugar Regulatory Administration (SRA) Hermenegildo Serafica said that his agency is one with the Department of Agriculture in implementing a suggested retail price (SRP) for sugar to ensure that the consumers are protected and not taken advantage of.
He said this as he assured that there is no shortage of sugar for retail consumers, while also admitting that there’s a shortage in the bottlers’ grade or premium refined sugar required by beverage companies such as Coke.
“The high prices of sugar is brought about by the erroneous perception being circulated by enterprising individuals that there is a shortage in sugar,” Serafica said.
“Some are taking advantage of the issue of the lack of sugar for bottlers and using this to propagate high prices even for standard refined and raw sugar which has no shortage,” he added.
According to him, the SRA has already sent a notice to a grocery chain with exorbitant prices well beyond the prevailing price and they have been required to give their reply within five days upon receipt of the notice.
As of June 10, prevailing price of raw is P50 per kilogram in the wet market and P55 in supermarkets while prevailing price of refined sugar is P65 in wet markets and P64 in supermarkets.
Prices in wet markets are monitored by the Philippines Statistics Authority three times a week while prices in supermarkets are monitored by SRA three times a week.
The bottlers’ grade sugar, on the other hand, has very specific quality requirements and standards that can be met by only a handful of sugar refiners in the Philippines.
Serafica explained that since it is the end of the milling season, refiners are constrained by the availability of bagasse to fuel their boilers for refining.
Bagasse for refining is sourced from the sugarcane fibers left after extraction of cane juice in the production of raw sugar by the sugar mills.