US export stabilizes PH sugar price

Vic Facultad with Bam Aquino and Dingdong Dantes

Former Iloilo City Vice Mayor Vic Facultad said the class A sugar has helped keep a stable sugar price here for years.

“I agree with Dan Abelita, and Panayfed’s position that we maintain class A sugar (US export), Facultad told HilwayNews through telephone today.

Vic Facultad has for years served as president of Panay Federation of Sugarcane Planters Inc. (Panayfed). Its incumbent president is Danilo Abelita.

Abelita earlier told Bombo Radyo Iloilo that Panayfed disagrees with suggestions to “do away” with class A sugar.

Locally produced sugar are classified for export to the US (class A), class B for domestic market, class C for reserve, and class D for world export.

Through a resolution filed in session at the Iloilo provincial board, Sangguniang Panlalawigan member Matt Palabrica sought an inquiry by national authorities on the plight of small sugarcane farmers.

Among others, Palabrica who is also a sugarcane farmer wanted that authorities look into the possibility of stopping sugar allocations to US.

Abelita also told the radio interview that class A sugar now represents only 7% of the total volume of Philippine sugar. The remaining 93% is classified class B sugar.

“At the bidding last week we had class A sugar priced at P1,215.99 (per 50 kilos bag) and B sugar at P1,516.31,” said Abelita.

Historically the local market for sugar is characterized by wide price fluctuations. The world market for class D sugar is likewise low, between P700 and P730. But class A sugar had stable prices above P1,000. 00, Abelita explained.

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