MANILA – Sugar should not retail for more than P55 per kilogram, with higher supply during the milling season expected to bring down costs, a regulator said yesterday.
Refined sugar should be sold at P53 to P55 while raw sugar should retail for P45 to P48 with farm gate prices going down in the last three weeks, said Sugar Regulatory Administration (SRA) chief Herminigildo Serafica.
Some retailers are selling the sweetener at P55 to P60 per kilo, he added.
“There are just a lot of people taking advantage of the situation and making more money at the expense of our general public,” Serafica told radio DZMM.
He added: “There should not be any price above P55.”
The SRA, he said, has no police power but is writing to retailers that overprice sugar.
The body is also coordinating with the trade and agriculture departments to set a suggested retail price for sugar, he added. (With a report from ABS-CBN News/PN)
