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The retail price of refined sugar is expected to go down to P60 per kilo with the discovery of stocks in warehouses across the country, Domingo Panganiban, senior undersecretary of the Department of Agriculture, said on Monday.
The former Agriculture chief said that more raids will be conducted in Visayas and Mindanao.
“We expect to bring down the retail price of refined sugar between P60 and P65 per kilo. We have enough sugar supply following the discovery of thousands of stocks in Bulacan and Pampanga,” Panganiban said in a news briefing.
He said that the pricing of P70 per kilo of refined sugar in supermarkets will influence the retail price in the wet markets.
The official added the government and various supermarkets secured at least 1.8 million bags of sugar from Victorias and Universal Robina Corp.
“The stocks in the supermarkets will last until December,” he said.
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