The Department of Trade and Industry was ordered to monitor sugar prices in different market and supermarkets along with other essential commodities.
As ordered by the President, sugar will be included among the items that the Department of Trade and Industry (DTI) will monitor.
“Sugar will be included in our regular monitoring in the coming days as directed by the President,” Trade Undersecretary Ana Carolina P. Sanchez said.
However, Sanchez said that the DTI will provide further details "this coming week," Business Mirror reported.
The Department of Agriculture (DA) is currently in charge of monitoring sugar prices, along with those for other products including rice, corn, cooking oil, fresh and dried fish, and other marine products, fresh eggs, fresh beef, pork, and poultry meat, fresh milk, fresh vegetables, and root crops which are considered necessities, Sanchez said citing the Price Act.
Under Prime Commodities, Sanchez said that the agriculture department keeps an eye on the price of fresh fruits, dried meat from pigs, beef, and poultry, fresh dairy products that are not considered necessities, onions, garlic, fertilizer (chemical and organic), pesticides, and herbicides, poultry, swine, and cattle feeds, veterinary products for poultry, swine, and cattle.
The trade undersecretary also said the DTI maintains is hawk-eyed on the price of basic necessities like salt, bread, candles, processed milk, coffee, laundry soap, and other marine goods.
Sanchez said that under Prime Commodities, the Trade department keeps an eye on the prices of flour, processed and canned pork, processed and canned beef, and poultry meat, noodles, vinegar, patis, soy sauce, paper, as well as toiletries and school supplies.
Marcos mentioned last week that the government is in discussion with traders to reduce the cost of sugar to as little as ₱70 per kilo as the government works to solve the lack of local sugar supplies, which is also affecting the operations of local food producers and driving up the cost of the sweetener.
Last week, the economic managers voiced their concern that if the sugar scarcity and pricing difficulties were not handled, they would have a negative impact on thousands of small businesses and impede efforts to fight poverty and provide a livelihood.
Another concern was that if beverage manufacturers, who are subject to taxes, are unable to produce the usual volume, government revenues may diminish.
The SRA reported that the price of sugar in Metro Manila supermarkets leapt to ₱93.01 per kg, compared to ₱95 per kg at public markets in the area.
Refined sugar was even more expensive in Metro Manila, where it could be purchased for ₱115 per kg in supermarkets and ₱100 per kg in public markets.
Due to lower cane production and a delay in import shipments, local sugar supplies are no longer able to meet market demand that causing of increase in the price of sweeteners.
Marcos said that certain food businesses have cut back on the number of days they are in operation as a result of the lack of sugar in the country.
The majority of the country’s leading bottling industries announced together last week that they are now experiencing a scarcity of premium refined sugar.
Marcos reorganized the SRA to convene stakeholder meetings and determine the inventory of the actual sugar supply.
Business organizations urged the government to look into the lack of sugar supply, claiming that it was hurting both regional food processors and manufacturers as well as consumers in general.
The business associations said that the supply issue needed to be resolved immediately to keep the price from rising.
Tags: #SugarImports, #DTI, #Basic Necessities