As the price of refined sugar in the local market has increased to P100 per kilo, the government is planning to import at least 300,000 metric tonnes (MT) of sugar, said Sugar Regulatory Administration (SRA) Administrator Hermenegildo Serafica on Thursday.
President Ferdinand “Bongbong” Macros Jr. has given the green signal to import sugar as a step to arrest the price rise and overcome the shortage of sweeteners.
“SRA is working on it and will soon decide when to import the commodity. The companies have been asked to submit their projected consumption of sugar until August 9, 2022,” he said.
“For the first time in history, the retail price of refined sugar has hit P100 per kilo. The suggested retail price (SRP) is only at P50 per kilo and the raw sugar is sold at P45 per kilo,” he informed.