Oliver 53 0 0 1 year ago 6 min to read

Retailers agree to reduce sugar’s price to P70 per kilogram.

Leading supermarkets in the nation have agreed to lower sugar’s cost to as little as PHP70 per kilogram, Malacanang stated Friday.

This came about after President Ferdinand “Bongbong” Marcos Jr. instructed Executive Secretary Victor Rodriguez to speak with the proprietors of Robinsons Supermarket, SM Supermarket, and Puregold Price Club, according to the Office of the Press Secretary (OPS).

According to the OPS, the grocery proprietors listened to Marcos’ request to reduce the price of sugar to PHP70.

According to a statement, “they all agreed to the suggested retail price of P70 per kilo of sugar, from a high of P90-P110 per kilo.”

In light of the unexpected increase in sugar costs in the market, Marcos expressed gratitude to “selfless” supermarket proprietors who decided to provide less expensive sugar in their foods and stores, Rodriguez said.

In a time when the nation is beset by numerous issues, Rodriguez added, “The President complimented the unselfish response from these businessmen who are sacrificing not just their personal inventory but also their predicted business earnings for the cause of the regular Filipinos.”

This is a prime example of the resilient Filipino spirit of Bayanihan (cooperation) and patriotism, he continued.

Marcos claimed on Wednesday that the government is talking with traders to lower sugar prices across the nation.

Rodriguez pointed out that Robinsons Supermarket and Puregold each promised to sell a million kilograms of washed sugar for PHP70 per pack of one kilogram, while SM shops agreed to sell their stock at PHP70 per kilogram.

As of next week, more than three million kilos of sugar will be available on the market, thanks to the most recent development, according to Rodriguez.

The grocery proprietors claim that the price of PHP70 per kg of sugar is good as long as supplies persist. The Department of Trade and Industry (DTI) would also keep an eye on the agreed-upon selling price of PHP70 per kilogram, according to the OPS.

Savemore Market, which serves as the umbrella brand for SM Supermarket, SM Hypermarket, Savemore, and its sister company, Alfamart, is now SM Markets’ model that is expanding at the quickest rate.

It has almost 1,500 stores total, including 1,201 Alfamarts, 60 SM Supermarkets, 53 SM Hypermarkets, 206 Savemore locations, and nine Savemore Express stores.

With 274 locations countrywide, Robinsons Grocery, a division of Robinsons Retail Holdings, Inc., is the second-largest supermarket chain in the nation.

Over 20 foodservice stalls and about 280 functioning stores make up the nationwide chain of supermarkets known as Puregold.

track compliance

Rodriguez stated that in order to prevent “potential domestic stockpiling by some entrepreneurial consumers” and guarantee that all consumers may benefit from the affordable sugar, the DTI would monitor participating retailers’ adherence to the agreed-upon purchase limit of one kilo per consumer.

In addition, Victorias Milling Company (VMC) promised to provide 45,000 sacks of bottler-grade sugar for soft drink firms weighing 50 kilos each in order to assist traders in the food manufacturing industries.

This is being done to prevent a potential temporary shutdown of their business, which may force their employees to find other jobs, the man explained. 500,000 kilos of sugar were also allocated by Victorias Milling for consignment at Kadiwa stores in the inhabited areas of the Visayas.

VMC is a fully integrated raw and refined sugar company situated in Victorias City, Negros Occidental, in Barangay XVI. It is one of the earliest modern sugar mills in the nation, having been established on May 7, 1919, by Don Miguel J. Ossorio.

Ahead of the country’s impending scarcity of sugar, Marcos met with representatives of the Philippine Chamber of Food Manufacturers, Inc. (PCFMI) to examine potential remedies.

Marcos previously revealed his desire to permit food businesses to import sugar directly. Marcos also holds the position of chair of the Sugar Regulatory Administration.

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