The National Federation of Sugarcane Planters (NFSP) called on the Sugar Regulatory Administration to provide updated information on the volume of imported sugar available in the market, actual sugar production and sugar yield, at the start of the new milling season.
The call of NFSP was made in the wake of reported low trading prices of sugar, amid efforts of the SRA to maintain prices at P3,000 per 50-kilogram bag.
Farmers are speculating that the market is still flooded by imported sugar, leaving little demand for domestic sugar, the NFSP said.
Out of the seven Negros mills that have started operations, only Hawaiian Philippine Company (HPCO) and First Farmers mill gate prices have reached more than P3,000, at an average of P3,040 per bag. Millgate prices in the other five mills have averaged P2,600 per bag, which is barely break even for most small planters.
SRA chief Pablo Luis Azcona said that they are determining what could have caused the price depression.
Azcona also raised the possibility that “someone is definitely making a scenario” with the low trading price.
“We will not take this sitting down,” he added.
(Gilbert Bayoran via The Visayan Daily Star (TVDS), photo courtesy of TVDS)
