'Speculators behind sugar price spike'

By Bella Cariaso

Feb 01, 2023 12:14 am

(UPDATE) AN official of the Sugar Regulatory Administration (SRA) on Tuesday blamed speculators for the spike in the retail prices of sugar in the local markets as the cost of refined sweetener reached as high as P120 per kilo.

During the Laging Handa briefing, SRA board member and planters' representative Pablo Luis Azcona confirmed a report in The Manila Times that soft drink manufacturers are lobbying to get the 50 percent share of the 450,000 metric tons of sugar imports.

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