MANILA, Philippines - The Sugar Regulatory Administration (SRA) has set a suggested retail price (SRP) of P52 per kilo for refined sugar this week.

According to SRA Administrator Rafael Coscoluella, a reasonable margin for traders, repackers and retailers was taken into account in the pricing.

He noted that selling sugar for over P52/kilo would be profiteering.

The SRA has decided to issue weekly SRPs for sugar after the price of the commodity hit P60 per kilo in some markets.

The Department of Agriculture, along with the Department of Trade and Industry, threatened to file profiteering cases against those who will go beyond the SRPs.

Coscolluela admitted though that while the weekly SRPs will guide consumers, they will not necessarily bring down prices.

Next week's SRP for sugar may reach P54 as world market prices continue to go up, Conscolluela said.