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Manila: The Department of Trade and Industry (DTI) has paid a supervised visit in several markets and supermarkets in Manila to inspect the price of commodities.
During an inspection, DTI found that sugar is being sold more than the suggested retail price (SRP).
According to SRP, white sugar should be sold at P50 per kilo, while brown sugar should be priced at P45 per kilo. But the supermarket was selling the white sugar at P57 per kilo and brown sugar at P49.50 per kilo.
There were the rumours of the hike in sugar prices in the market.
Earlier, the Sugar Regulatory Administration (SRA) maintained there is no reason for prices of the commodity to shoot up as current stock balance is at an all-time high.
“Those who are spreading rumours of sugar prices increasing are trying to manipulate the market so they can increase their profits at the expense of the consumers and producers,” SRA administrator Hermenegildo Serafica said to a www.philstar.com.