The average retail price of sugar has increased during the second week of April due to the increase in demand and speculations that traders will increase prices in preparation for they payment of the 12% Value Added Tax (VAT) next month.
According to the Sugar Regulatory Administration (SRA), the average retail price of raw sugar in Metro Manila markets have increased by P1.00 per kilo.
From P43.50, the current price is now at P44.50 per kilo starting April 10.
The average retail price of washed sugar is at P48.50 per kilo since April 10 from P47.50 per kilo last April 7.