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DTI urged to check sugar price surge | Inquirer Business

Labor groups and the Sugar Regulatory Administration (SRA) have called on the Department of Trade and Industry (DTI) to look into the excessive pricing of sugar in the market when prices at the mill-gate level have already began to dip.

In a roundtable discussion with sugar stakeholders on Monday, Laban Konsyumer president and former trade undersecretary Vic Dimagiba lamented the industry’s “very poor supply chain for basic commodities,” which was causing the huge discrepancy between the mill-gate price and retail price of sugar.

Labor groups and the Sugar Regulatory Administration (SRA) have called on the Department of Trade and Industry (DTI) to look into the excessive pricing of sugar in the market when prices at the mill-gate level have already began to dip.

In a roundtable discussion with sugar stakeholders on Monday, Laban Konsyumer president and former trade undersecretary Vic Dimagiba lamented the industry’s “very poor supply chain for basic commodities,” which was causing the huge discrepancy between the mill-gate price and retail price of sugar.

Refined sugar is being sold in the market at P61 a kilo, which translates to P3,100 per 50-kilo bag—the standard volume of sugar when sold to traders.

However, according to SRA board member Emilio Yulo, the mill-gate price of raw sugar for the past two weeks has been set at P1,450 per bag. Ideally, even with the additional costs from processing, transport and packaging, the retail price for refined sugar should be at only P50 a kilo.

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DTI urged to check sugar price surge | Inquirer Business.