President Gloria Arroyo has already given a go signal for the importation of sugar, but Trade and Industry Secretary Peter B. Favila said that Sugar Regulatory Administrator Rafael Coscolluela had asked him to assess the local supply situation first.

Favila said that importation of sugar has remained an option if the tight supply and prices continue to rise.

In a meeting with Cosculluela, Favila suspected that some “unscrupulous traders” are manipulating prices and supply of sugar causing artificial tightness in supply during this milling season.

Prices of sugar have gone to P44 per kilo from only P41 during this milling season. According to Favila, Coscolluela suspected that some unscrupulous traders are behind the increased sugar prices.

He said he told Coscolluela, “Since we agreed that we draw on your cooperation to stave off prices then we appreciate if we could determine what causes this price hikes.”

The SRA suspicion was also bolstered when the Bureau of Customs pprehended 20 containers of sugar, which is now being processed for distribution by the Department of Social Welfare and Development.