The retail price of sugar drops to 90 pesos/kilo
THE retail price of refined sugar in some Metro Manila markets fell to 90 pesos per kilo-day after President Ferdinand “Bongbong” Marcos Jr. signed Sugar Ordinance 2 authorizing the import of 150,000 metric tons of sweetener.
Based on the Department of Agriculture (DA) Daily Market Watch on Friday, refined sugar was being sold for P90 per kilo at Muntinlupa Public Market in Muntinlupa and Commonwealth Market in Quezon City.
Additionally, the retail price of refined sugar at the Pasig City Mega Public Market in Pasig City fell to 92 pesos per kilo; 95 pesos per kilo at Malabon Central Market in Malabon City; San Andres Market, Pritil Market and Quinta Market in Manila City; and the Las Piñas market.
On the other hand, the retail price of refined sugar at Muñoz Market and Mega Q Mart Market in Quezon City, and Marikina Public Market in Marikina City remained high at P98, P100 and P102 per kilo, respectively.
The retail price of washed sugar ranges from 65 pesos to 90 pesos per kilo, while the cost of brown sugar was set between 65 pesos and 80 pesos per kilo.
Marcos signed Sugar Order 2 authorizing the import of the 150,000 metric tons of sugar as he directed the Sugar Regulatory Administration (SRA) to ensure the imports arrive no later than November 15, 2022.
The import of sugar is expected to boost supply in the local market as the country’s sugar production for the 2022 to 2023 crop year is estimated at 1.876 million metric tons.
Based on SRA data, the country’s total sugar consumption is pegged at 2.031 million metric tons.