Business tycoons who dominate the supermarket business in the country have heeded the call of Filipino consumers to make available cheap-priced sugar in their groceries and stores amid the sudden spike in sugar prices in the market.
On orders from President Ferdinand “Bongbong” Marcos Jr., Executive Secretary Victor Rodriguez facilitated the series of talks with owners of Robinsons Supermarket, SM Supermarket, and Puregold Supermarket, and they all agreed to the suggested retail price of P70 per kilo of sugar, from a high of P90-P110 per kilo.
“The President lauded the selfless response from these businessmen who are sacrificing not just their own inventory but also their projected business profits for the sake of the ordinary Filipinos at this time when the country is besieged by many problems,” Rodriguez said.
“This is a classic display of the indomitable Filipino spirit of ‘bayanihan’ and love of country,” he added.
Rodriguez said SM stores have committed to sell their inventory on washed sugar at P70 per kilo while Robinson’s Supermarket pledged to unload 1 million kilos of sugar at P70.00 per kilo with 1 kilo per pack in Metro Manila.
“Puregold likewise committed to make available 2 million kilos of refined sugar at P70 per kilo. This will give ordinary Filipinos access to cheaper sugar with more than 3 million kilos available in the market next week,” Rodriguez said.
To ensure that many consumers can avail of the cheap-priced sugar, Rodriguez said the Department of Trade and Industry (DTI) will monitor participating retailers’ compliance to the agreed purchase limit of 1 kilo per consumer “to prevent possible household hoarding by some enterprising consumers.”
Consumers can expect the price-drop in the leading groceries and supermarkets in Metro Manila next week. The availability of P70 per kilo of sugar is good until supply lasts, according to the supermarket owners. The agreed selling price of P70 per kilo will likewise be monitored by DTI.
Savemore Market is currently the fastest growing format of SM Markets, which serves as the umbrella brand for SM Supermarket, SM Hypermarket and Savemore and its sister company, Alfamart. It has over 1,500 stores composed of 206 Savemore stores, nine Savemore Express stores, 60 SM Supermarket stores, 53 SM Hypermarket stores, and 1,201 Alfamarts.
Robinsons Supermarket is a division of Robinsons Retail Holdings, Inc. It is the second largest supermarket chain in the country with 274 stores nationwide.
Puregold Price Club, Inc. or simply Puregold is a chain of supermarkets that has approximately 280 operating stores and over 20 food service stalls nationwide.
Rodriguez said Victorias Milling Company also pledged to help traders in the food manufacturing industries by making available 45,000 sacks at 50 kilos per sack bottler-grade sugar for soft drinks companies like Coca-Cola, Pepsi and RC Cola.
“This is to avert a possible temporary halt in their operations that could result to the displacement of their workers,” Rodriguez pointed out.
Victorias Milling Company, Inc. (VMC or the Company) is an integrated raw and refined sugar Company located in Barangay XVI, Victorias City in Negros Occidental. The Company, which was among the earliest modern sugar mills in the country, was founded on May 7, 1919 by Don Miguel J. Ossorio.
“Victoria’s milling also allotted 500,000 kilos of sugar for consignment in Kadiwa stores in the populated parts of the Visayas,” Rodriguez said.
The President earlier met with members of the Philippine Chamber of Food Manufacturers, Inc. (PCFMI) to discuss possible solutions to the country’s looming sugar supply shortage.
The PCFMI is the principal organization of manufacturers and distributors of food products in the Philippines. It is responsible for providing consumers with safe, nutritious, and affordable processed food products compliant with local and international standards and regulations.
“Hopefully, we can get some concessions with the traders so that at least the pricing will be reasonable. The concern is the supply right now. I’ll make sure that there is sufficient supply in the country so that you can operate at full capacity,” Marcos said.
Marcos is also eyeing direct importation by food manufacturers as part of emergency measures to address current industry concerns. This will need the approval of the Sugar Regulatory Administration (SRA), which the President chairs. (PR)
