Manila: The Philippines government is planning to impose suggested retail price (SRP) and increase warehouse inspections, as concerns persist over the elevated retail prices of refined sugar, despite a decline in the farmgate price of raw sweeteners, according to statements made by Sugar Regulatory Administration (SRA) administrator Pablo Azcona.
Azcona disclosed in a radio interview that the SRA is actively exploring the implementation of an SRP because white sugar is being sold at rates as high as P110 per kilo, which is considerably higher than the P55 per kilo price at the farmgate for raw sugar.
“Farmers and millers have expressed their concerns about the diminishing trend in the farmgate sugar price. The explanation provided to them is the oversupply of sugar in the market, yet the retail price has not seen a corresponding decrease,” Azcona remarked.
Additionally, Azcona stated that sugar farmers have proposed that the SRA conduct warehouse inspections to ascertain the actual volume of sugar within the country. “Farmer groups are suggesting warehouse checks because, despite the recorded volume of sugar, retail prices remain high,” he added.
