Prices of sugar remain stable despite Undas approaching

VENDORS in Agdao and Bankerohan public markets in Davao City observed that prices of sugar are still stable, despite the approaching All Saints’ Day and All Souls’ Day celebration.

During SunStar Davao’s price monitoring on October 18, brown sugar in both markets is priced ranging from P70 to P95 per kilogram (/kg) while refined sugar is at P110 to P125/kg. The prices, vendors said, have been stable since the last two weeks.

Other vendors also pointed out that the prices of sugar are expected to increase normally at this time.

“Motaas man ang demand sa asukar karon, labi na ang brown, pero sa karon daghan pa ang supply og barato pa (Demand will soar soon, especially the brown one, but as of the moment we have sufficient supply of sugar and still cheaper),” Dodong Paco, a vendor who sells sugar, told SunStar Davao.

Paco also said that sugar prices are normally at peak during holidays, where the demand is high. He also expects more supply will come soon to address it.

Another vendor Beverley Artisola said they expect prices to go up as the Undas celebration approaches.

“Kanang brown inig hapit na [October] 30 ug 31 moabot na na og P80 to P82 per kilo, kay lagi magamit na ang asukar inig naa sa sementeryo, mag-Undas, pero sa karon bastante pa (The brown sugar, when October 30 and 31 near, it will go up to P80 to P82 a kilo because it is in demand during Undas. But as of the moment we still have a lot of supply of brown sugar),” Artisola said.

It can be noted that the Sugar Regulatory Administration (SRA) reported in September that sugar prices in the Philippines have remained stable since February. Both retail and farmgate prices have stayed within the range of P85 to P110 and P60 per kilo (P3,000 per 50-kilo sack) respectively.

Despite market stability, the SRA is facing pressure to lower farmgate prices. However, they argue that rising costs of diesel, farm inputs, and labor make it difficult to further decrease prices without compromising social responsibility towards farm workers unless local producers adopt mechanization.

SRA acting administrator Pablo Luis Azcona said the country would have a two-month buffer stock of sugar as the milling season has begun.

"So, usually once we start milling a month or so after that, the refineries will start running as well and so we will have refined sugar,” he said. ICE with reports from PNA