MANILA, Philippines - The National Price Coordinating Council is set to meet today to tackle the prices of goods in demand during the holiday season, including sugar, of which there was a reported shortage in the markets.
Trade Secretary Peter Favila said there would be some recommendations coming from the Department of Agriculture about sugar following reports that there are some supply shortages and that prices have gone up in some areas.
Favila said the sugar millers and traders were invited to attend today’s meeting " because we have been receiving different reports. Some are saying because there’s a heavy demand by the industrial users and some millers have stopped their operations for the time being.” he said.
However, Favila said it is currently the milling season so there should be no problems with the supply of sugar right now.
“So we want to find out from the traders and the dealers themselves what this is all about because if you don’t see the prices stabilizing at certain reasonable levels, we will be forced to do something more drastic,” he said.
He said the warehouses would also be inspected in response to reports of hoarding.
Favila said the price council will also go over the prices of “Christmas items” such as chicken, pork, queso de bola and ham in order to ensure that these remain reasonable.
Reports have indicated that prices of these goods have already gone up in the markets. – Marvin Sy