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Manila Bulletin devider Philippines devider National devider Malacañang says consumers now enjoying P70 per kilo sugar

Malacañang says consumers now enjoying P70 per kilo sugar

Published Aug 22, 2022 06:13 pm

Malacanang on Monday, August 22, said the retail price of sugar in supermarkets and groceries in Metro Manila is now pegged at P70 per kilo.

The Palace said it has been getting reports that owners of supermarket and grocery chains have acceded to the request of President Ferdinand “Bongbong” R. Marcos Jr. for them to bring down the price of sugar to P70 per kilo.

Before, the price of sugar in supermarkets and groceries was priced P90 to P110 per kilo.

Marcos lauded businessmen who cut down their profits in order to provide cheap-priced sugar to consumers.

“This is a classic display of the Filipino spirit of ‘bayanihan’ and love of country. It is good to know that consumers are now enjoying the price-drop of sugar in the leading groceries and supermarkets,” the chief executive said in a statement.

To recall, Marcos met with the owners of Robinsons Supermarket, SM Supermarket, and Puregold Supermarket in Malacanang last week, and they all agreed on a suggested retail price of P70 per kilo of sugar.

The businessmen also promised the President that they would unload 1 million kilos of sugar in their respective supermarkets starting today (Monday).

Ensuring that as many consumers as possible can benefit from the low-cost sugar, Marcos directed the Department of Trade and Industry (DTI) to monitor participating retailers' adherence to the agreed-upon purchase limit of one kilo per consumer.

According to supermarket owners, the availability of P70 per kilo of sugar is good until supplies last.

Malacañang said the DTI will also keep an eye on the agreed-upon selling price of P70 per kilo.

To go down P60 per kilo?

Following the consecutive raids conducted at warehouses suspected of hoarding sugar, Agriculture Undersecretary Domingo Panganiban said the price of sugar may go down as low as P60 per kilo.

“Puwede sigurong bumaba ng P60 (It is possible for the price of sugar to go down as low as P60 per kilo),” he told reporters during an interview, citing the recent raids conducted by the government to crackdown hoarders.

He noted that there have been no inspections yet conducted at warehouses located in Visayas and Mindanao.

On August 18, government agents led by the Bureau of Customs (BOC) seized approximately P220 million in imported sugar in two separate operations in Pampanga and Bulacan.

After confirmation of a report of sugar stockpiles in the two locations, the operations were conducted at the New San Fernando Public Market in San Fernando, Pampanga, and near the Taruwe's Lugawan, Tapsihan Atbp along Kaypian Rd., in Jose del Monte, Bulacan.

Addressing sugar supply

In addition, the President met with members of the Philippine Chamber of Food Manufacturers, Inc. (PCFMI) to discuss potential solutions to the country's looming sugar supply shortage.

Marcos said he is hoping that the government 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.”

As part of the emergency measures to address current industry concerns, Marcos is also considering direct importation by food manufacturers.

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Malacañang says consumers now enjoying P70 per kilo sugar
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