Leading supermarkets in the nation have agreed to lower sugar's cost to as little as…
PBBM applauds retailers for selling sugar for P70 per kilogram.
The nation’s top supermarkets agreed to sell sugar for as little as PHP70 a kilogram on Monday, and President Ferdinand “Bongbong” Marcos Jr. praised them for their decision, calling it a “classic display of the spirit of bayanihan.”
Following news reaching Malacaang that supermarket and grocery chain owners had reduced the cost of sugar to PHP70 per kilo from a high of PHP90 to PHP110 per kilo, Marcos made the comment.
“The Filipino spirit of ‘bayanihan’ and love of country is on show in this classic way. It is encouraging to learn that sugar is now less expensive in popular supermarkets and grocers, Marcos remarked in a press release.
Owners of supermarket and grocery chain stores previously reaffirmed that the price of PHP70 per kilo of sugar is valid while supplies remain.
Marcos also instructed the Department of Trade and Industry (DTI) to keep track of how well participating merchants are adhering to the predetermined purchase limit of one kilogram per customer.
The owners of Robinsons, SM, and Puregold supermarkets met with Marcos last week, and they all concurred on the suggested retail price of PHP70 per kilo of sugar.
Additionally, the business owners agreed to empty their individual supermarkets of 1 million kg of sugar, which they began doing on Monday.
In an effort to reach a settlement with merchants to lower sugar prices, he also met with representatives of the Philippine Chamber of Food Manufacturers, Inc. (PCFMI).
The main association for food producers and retailers in the Philippines is called PCFMI.
It is in charge of offering consumers processed food items that are secure, wholesome, and reasonably priced as well as compatible with national and international standards and laws.
As part of “emergency measures” to deal with the shortage of sugar, the government is currently considering the direct importation of goods produced locally.
The authorities is also checking storage facilities to see if hoarders are faking a sugar scarcity.
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