In response to the sudden increase in sugar prices, major supermarkets in the country heeded the call of consumers to provide cheap-priced sugar in their stores.
Press Secretary Trixie Cruz-Angeles said on Friday, Aug. 19, that Executive Secretary Victor Rodriguez facilitated a series of negotiations with owners of Robinsons Supermarket, SM Supermarket, Puregold Supermarket, and S&R Membership Shopping on orders from President Ferdinand "Bongbong" Marcos Jr.
Angeles said Robinsons Supermarket agreed to sell one million kilos of sugar at P70 per kilo, from a high of P90-P110 per kilo.
SM Supermarket also committed to sell their sugar inventory at the suggested retail price. S&R supermarkets, on the other hand, "is not included as they are into selling in wholesale."
“Puregold likewise committed to make available 2 million kilos of refined sugar at P70 per kilo. This will give ordinary Filipinos access to cheaper sugar with more than 3 million kilos available in the market next week,” Rodriguez said.
“The President lauded the selfless response from these businessmen who are sacrificing not just their own inventory but also their projected business profits for the sake of the ordinary Filipinos at this time when the country is besieged by many problems,” Rodriguez said. “This is a classic display of the indomitable Filipino spirit of ‘bayanihan’ and love of country.”
The Executive Secretary further said that the Department of Trade and Industry (DTI) will oversee participating retailers' compliance to the agreed purchase limit of 1 kilo per consumer "to prevent possible household hoarding by some enterprising consumers," to ensure that many consumers can benefit from the inexpensive sugar.
Next week, shoppers can anticipate price reductions at Metro Manila's top supermarkets and grocery stores. The grocery proprietors claim that the price of P70 per kilo of sugar is valid as long as supplies persist. The DTI will also keep an eye on the agreed-upon selling price of P70 per kilo.
Helping traders amid a looming sugar shortage
Per Rodriguez, Victorias Milling Company has promised to assist traders in the food manufacturing industries by providing 45,000 sacks of bottler-grade sugar for soft drink businesses like Coca-Cola, Pepsi, and RC Cola at a price of 50 kilos per sack.
“This is to avert a possible temporary halt in their operations that could result to the displacement of their workers,” Rodriguez pointed out.
Victorias Milling Company, Inc. (VMC or the Company) is an integrated raw and refined sugar Company located in Barangay XVI, Victorias City in Negros Occidental. The Company, which was among the earliest modern sugar mills in the country, was founded on May 7, 1919 by Don Miguel J. Ossorio.
Rodriguez said Victoria’s milling has also allotted 500,000 kilos of sugar for consignment in Kadiwa stores in the populated parts of the Visayas.
The Philippine Chamber of Food Manufacturers, Inc. (PCFMI) members and the President previously met to examine potential solutions to the nation's impending shortfall of sugar supply.
Malacañang said the PCFMI is the main association for food producers and retailers in the country, noting that it is in charge of offering consumers processed food that complies with national and international standards and laws while being healthy, affordable, and safe.
“Hopefully, we can get some concessions with the traders so that at least the pricing will be reasonable. The concern is the supply right now. I’ll make sure that there is sufficient supply in the country so that you can operate at full capacity,” the chief executive said.
As a last resort to address current industry concerns, Marcos is reportedly considering direct importation by food producers.