Sugar prices continue to rise
by JMD Abangan
Tagum City (27 February) -- Sugar prices have gone on rising, and Tagum City market is showing this soaring direction.
Monthly monitoring of prices of the Department of Trade and Industry (DTI)-Davao del Norte provincial office revealed more than 10 percent month-on-month increases of sugar prices since December, 2009.
From P41.50 per kilo, white sugar sold last December in leading supermarkets in Tagum City, climbed to P46.00 per kilo in January, 2010 and then leaped to P52.80 per kilo on the average, this month.
DTI Trade and Industry Development specialist Amy Baldonado, who takes charge of price monitoring, calculated the price increase rate of white sugar at 12 percent from December, 2009 to January 2010, and 15 percent from January to February this year.
On the other hand, brown sugar prices showed the same trend of increase from December last year to February this year.
DTI price monitoring reports showed brown sugar price moving from P33.00 in December, 2009 to P35.00 in January, 2010, posting a 12 percent rise. In February, brown sugar price soared to P42.65 a kilo.
Baldonado said scarcity was the observable cause of such leaping prices of sugar. Information from the Bureau of Agricultural Statistics (BAS) corroborated such observation.
Regional Statistician Jocelyn Baranggan of BAS XI revealed a 14. percent decrease in sugar production in Region XI.
BAS XI data showed that January to September, 2009 sugarcane production was only 433,876 metric tons, but the sugarcane yield in the same period of 2008 was a little bit higher at 505,334.69 metric tons. (PIAXI) [top]