Malacañang assured the nation on Saturday that there is enough supply of sugar with “reasonable prices.”

Deputy presidential spokesman Ricardo Saludo said that the Department of Agriculture (DA) has been directed by Mrs. Arroyo to see to it that there is “reasonable’’ price for sugar, following the current supply-and-demand situation.

“Kumikilos na po ang Department of Agriculture para siguraduhin na merong sapat na mabibili sa abot kayang halaga. Kaya walang dahilan para magstock up pa ng asukal dahil lalo pa nito itataas ang presyo (The Department of Agriculture is working to ensure that there is enough supply of sugar with reasonable prices. So there is no reason to stock up on sugar because it would only increase its price),” he said.

He also asked the public not to engage in panic-buying because it would only worsen the current market situation on sugar.

Saludo said the government stood firm in importing 150,000 metric tons of sugar to augment the market needs.

“What the DA, during the rice crisis, would also be implemented now to augment the local supply and stabilize prices,” he said.

Agriculture Secretary Arthur Yap had earlier said the suggested retail price ranging from P45 to P48 a kilo is set to be implemented just before the arrival of the 150,000 metric tons of imported sugar from May to August.

The Bureau of Agricultural Statistics projected that the prevailing price of refined sugar may reach up to P60 a kilo.