Leading Supermarket Chains Agree to Lower Sugar Prices
Supermarket in the nation have agreed to lower sugar’s cost to as little as PHP70 per kilogram, Malacaang announced Friday.
This came about after President Ferdinand “Bongbong” Marcos Jr., instructed Executive Secretary Victor Rodriguez to speak with the owners of Robinsons Supermarket, SM Supermarket, and Puregold Price Club, according to the Office of the Press Secretary (OPS).
According to the OPS, the supermarket proprietors listened to Marcos’ request to reduce the price of sugar to PHP70.
“They all agreed to the suggested retail price of P70 per kilo of sugar, from a high of P90-P110 per kilo,” the statement said.
According to the report of GOV.PH, In light of the unexpected increase in sugar prices in the market, Marcos expressed gratitude to “selfless” supermarket proprietors who agreed to provide less expensive sugar in their groceries and stores, Rodriguez said.
“This is a classic display of the indomitable Filipino spirit of bayanihan (teamwork) and love of country,” he added.
The interview also mentioned that President Ferdinand “Bongbong” Marcos Jr. lauded the selfless response from these businessmen who are sacrificing not just their own inventory but also their projected business profits for the sake of the ordinary Filipinos at this time when the country is besieged by many problems.
Marcos claimed on Wednesday that the government is negotiating with traders to lower sugar prices in the nation. Rodriguez pointed out that Robinsons Supermarket and Puregold each promised to sell a million kilograms of washed sugar at PHP70 per pack of one kilogram, while SM stores agreed to sell their stock at PHP70 per kilogram.
The report mentioned that As of next week, more than three million kilos of sugar will be available on the market, thanks to the most recent development, according to Rodriguez.
The OPS also stated that, in accordance with the owners of the supermarkets, the price of PHP70 per kilo of sugar is good until supplies run out. The DTI will also keep an eye on the agreed-upon selling price of PHP70 per kilo (Department of Trade and Industry).
Savemore Market, which serves as the umbrella brand for SM Supermarket, SM Hypermarket, Savemore, and its sister company, Alfamart, is currently SM Markets’ format that is expanding at the fastest rate. It has over 1,500 stores total, including 1,201 Alfamarts, 60 SM Supermarkets, 53 SM Hypermarkets, 206 Savemore stores, and nine Savemore Express stores.
With 274 locations nationwide, Robinsons Supermarket, a division of Robinsons Retail Holdings, Inc., is the second-largest supermarket chain in the nation. Over 20 food service stalls and about 280 operating stores make up the nationwide chain of supermarkets known as Puregold.
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