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Sugar prices up, supply down
posted on: Mar 3 2010 9:36 by Royston. Viewed 268 times.
Sugar is again in short supply and prices are rising. A 125lb sack has risen 500 pesos to RD$1900, which for the consumer means a typical price of 22 pesos or more per lb.
In a country where we used to see acres of sugar cane and the plumes of smoke from the many mills
was a familiar site on every horizon; sugar, it seems is now becoming a scarce commodity. The sugar industry has contracted with the closure of mills but, according to Rafael Santos, president of the Dominican Council of Retail Merchants of Allowances (CODEPRO), the remaining suppliers are cutting production.
Santos called on the government to seek a quick solution to the problem, because sugar is a major consumer product in the country.
Recently the National Union of Sugar Producers (Unazucar), attributed the price rise to speculation by traders, due to a rise in demand from Haiti.
Santos described as the situation as "unmanageable" due to the combination of short supply and high prices.
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