With the discovery of supplies in facilities around the nation, the retail price of refined sugar is likely to fall to P60 per kilo, according to Domingo Panganiban, senior undersecretary of the Department of Agriculture, on Monday.

According to the former agricultural chief, further raids would be performed in Visayas and Mindanao.

“We expect to bring down the retail price of refined sugar by between P60 and P65 per kilo,” Panganiban said in a press conference. “We have enough sugar supply following the discovery of thousands of stocks in Bulacan and Pampanga,” Panganiban said in a news briefing.”

He mentioned that the P70 per kilo pricing of refined sugar in supermarkets will impact the retail price in wet markets. The official also revealed that the government and numerous supermarkets obtained at least 1.8 million bags of sugar from Victorias and Universal Robina Corp.

“The stocks in the supermarkets will last until December,” he claimed.