Supermarket chains will lower their prices of sugar to P70 per kilo as the government eyes private sector imports of the sweetener that's in short supply, Malacañang said.
Robinsons Supermarket and Puregold each agreed to sell 1 million kilos of sugar at P70. SM Supermarket committed its sugar inventory to the same suggested retail price, Press Secretary Trixie Cruz-Angeles said.
President Ferdinand "Bongbong" Marcos is "eyeing" direct imports of sugar by food manufacturers, which he will approve as chair of the Sugar Regulatory Administration, she said.
"Napakiusapan sila ni Executive Sec. Vic Rodriguez na bilang tulong na lang sa ordinaryong konsyumer," Cruz-Angeles told reporters.
Sugar purchase in the mentioned supermarkets will be limited to 1 kilo per buyer, she added.
The food industry has expressed concern over the dwindling supply of sugar which has caused a spike in the price of the staple ingredient to as much as P100 per kilo.
The makers of Coke, Pepsi, and RC Cola earlier this week said they were facing a shortage of premium refined sugar after Marcos Jr. initially rejected the importation of 300,000 tons of the commodity.
Editor's Note: Robinsons Supermarkets and Summit Media, which publishes reportr, are both part of the Gokongwei Group.