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  • By Reggie Vizmanos

Government To Purchase Sugar From Local Farmers At Premium Price

The Department of Agriculture (DA) and Sugar Regulatory Administration (SRA) have gathered leaders from the sugar industry to discuss the government's initiative to directly buy sugar from farmers at a premium price.

The government's initiative to directly buy sugar from farmers at a premium price aims to support farmgate prices and reduce retail prices.

The aim is to support farmgate prices and reduce retail prices.

SRA Administrator Pablo Azcona, Agriculture Secretary Francisco Tiu Laurel Jr., and Philippine International Trading Corp. President and CEO Undersecretary Emmie Liza Perez-Chiong met with leaders from sugar federations, millers, farmers, and traders at the DA central office in Quezon City to discuss the proposed plan.

Leaders from various sugar industry organizations, such as the United Sugar Producers Federation, Confederation of Sugar Producers Association Inc., National Federation of Sugarcane Planters, Luzon Federation of Sugarcane Growers and Associations, Panay Federation of Sugarcane Farmers Inc., Philippine Sugar Millers Association, and Philippine Association of Sugar Refiners, participated in the meeting.

Azcona revealed that these organizations played a crucial role in formulating the mechanics for the government's involvement in sugar purchases.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

The meeting also addressed steps to enhance productivity, profitability, stability of sugar supply, and achieving better retail prices while considering the welfare of sugar farmers.

Describing the meeting as "momentous," Azcona highlighted that such a gathering of industry stakeholders hadn't occurred for around eight years. He expressed hope that it marks the beginning of a united industry that collaborates openly and supports each other.

Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Sugar producer federations sought intervention from Laurel and President Ferdinand R. Marcos Jr. due to the significant decline in farmgate sugar prices from PHP2,400 to PHP2,500 per 50-kilo bag since the start of the milling season in September.

The retail prices of refined sugar in Metro Manila markets ranged from P74 to P100 per kilo, with brown sugar fetching P60-90 per kilo. Azcona mentioned that the SRA is considering the implementation of a suggested retail price scheme for sugar.

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