date:Jun 11, 2014
Rising domestic demand and government efforts to curb smuggling of the commodity have pushed local sugar prices higher in recent months, the Sugar Regulatory Administration (SRA) said in a statement on Tuesday. Domestic millsite prices have gone up by as much as 20 percent to 1,688 pesos ($39) per 50-kilogram bag as of last month, from 1,411 pesos in January, the state agency said.
The SRA expects the country's buffer stocks of raw and refined sugar to be at around 275,000 tonnes at the end of