THE composite price of sugar has slightly increased by P14.24 per 50-kilo bag, records of the Sugar Regulatory Administration (SRA) showed.
As of week ending January 22 this year, composite sugar price went upward to P1,527.15 per bag from only P15,512.91 per bag on January 15, it added.
SRA also recorded lower prices on week ending January 8, at P1,506.31 per bag; and on week ending January 1, at P1,488.27 per kilo.
SRA Administrator Anna Rosario Paner said Friday the slight improvement in the prices can be attributed to the changes, specifically a decrease, in the supply of sugar in the country.
Paner pointed out that aside from supply, movement in prices is also relative to the “season.”
“There are really seasons where price either decreases or increases,” she said, adding that the last year’s importation has added the local supply which may cause succeeding prices to become cheaper.
The SRA believes that for now, there is no need for the country to import sugar.
“Importation is not a regular program of the government, the administration will import if there is a need for more sugar,” Paner pointed out.