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PIA Press Release

Sugar, rice, flour prices under tight watch in Zambo

Pagadian City (February 3) -- The government is closely monitoring the price and supply of sugar, rice, flour and other basic commodities in the market following reports of price spikes and shortages in some areas of the country.

While prevailing prices of refined and white sugar at the national level went up by P4.00 and P6.00 respectively compared last month, the price of rice and other basic and prime commodities remained constant or have actually gone down after the holiday season.

The upward adjustments in the price of sugar are due to the heightened demand this year as can be gleaned from the increased rate of withdrawals from the mills. This is aggravated by the fact that the world sugar price is at its 28-year high according to Sugar Regulatory Authority (SRA) administrator Rafael Coscoluella.

To temper the price and bring it back to reasonable levels, the government through the National Food Authority (NFA) is set to import 150,000 metric tons of sugar soon. Agriculture Secretary Yap committed to submit to the National Price Coordinating Council next week a P45 to P48 suggested retail price (SRP) for sugar.

In Region 9, the prices of sardines, processed milk, coffee, detergent and laundry soap, flour, canned pork and beef, soy sauce, vinegar and toilet soap are actually slightly lower than the national SRP of said commodities.

These data were shown in the January 18, 2010 price monitoring report consolidated by the Department of Trade and Industry (DTI) Regional Office 9.

Trade Director Nazrullah Manzur said that the DTI is working closely with DA and NFA to ensure stability in the supply and prices of these basic commodities. To ensure compliance, Manzur enjoins the cooperation of the buying public to report overpricing and hoarding in the market to the nearest DTI office. Or email it at (LSV/DTI9/PIA9) [top]

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