Category: Business Mirror

The Philippines’ most trusted and preferred housing brand continues to shape the homebuying landscape in the Visayas and Mindanao through milestone celebrations that honor both the heritage and the hope of homeownership.

In Iloilo, Savannah marks its silver anniversary as the heart of Georgia, while in Davao, Camella commemorates three decades of community building-together underscoring a golden legacy of lifescapes designed for Filipino families.

Savannah’s silver celebration

Savannah’s silver anniversary, themed ‘My Heart, My Home, My Savannah,’ is a commemoration of time and a tribute to the thousands of families who have made Savannah a place to call home.

‘My Home’ speaks to the safety and sense of belonging that Savannah has provided its residents throughout the years, while ‘My Heart’ reflects the emotional ties nurtured and the memories that have been woven into the daily fabric of community life. ‘My Savannah’ represents the pride of being part of something enduring, where every resident embodies a way of life that continues to flourish through every household.

Savannah kicked off a month-long series of events that brought together homeowners, business partners, and community friends. The festivities began with a Fun Run that promoted fitness, complemented by a Food Truck Assembly, a Medical Mission, and a Zumba session that filled the grounds with movement.

The Family Day highlighted the joy of homegrown traditions, featuring Laro ng Lahi games; the Paws Club, which ensured furry companions shared in the fun; and a Movie and Camping Night that offered time together. Concluding with the Savannah Fiesta, the anniversary activities include a Holy Mass, followed by a Food Fest with live band performances. The celebration closed with a meaningful tree planting activity named ‘Little Hands, Big Trees.’ The activities during the silver anniversary of Savannah reflected the values that have always defined the residential development: health and heritage, community spirit, and cultural pride.

Fortifying excellence

Savannah has been offering Spanish Mediterranean-inspired homes, lifestyle amenities, and a secure environment that promotes convenience and connectivity. The neighborhood of Savannah has consistently set the standard for modern living and has established itself as the premier residential development in Iloilo.

The natural beauty of Savannah, enhanced by greenways and leisure hubs, fosters a sense of well-being. Every home is designed to strike a balance between form and function, creating dynamic living spaces that cater to the diverse needs of its residents. Complementing these residences is a suite of amenities that spans lifestyle, leisure, and everyday essentials, enriching the rhythm of daily life.

The proud residential component of Georgia by Vista Estates, touted as Iloilo’s biggest lifestyle destination, has recently been recognized by PropertyGuru with the Highly Commended Award for Best Township Development 2025. Savannah was also hailed as the Best Mixed-Use Development in Visayas and Mindanao by Lamudi, The Outlook 2023: Philippine Real Estate Awards.

Thirty Years, A Thousand Everyday Wins in Davao

Camella has journeyed with every Davaoeño in fulfilling the lifelong dream of homeownership, welcoming families across the fastest-growing cities and flourishing corridors of the region. From the urban heart of Davao City to the sprawling hubs in Davao del Norte, Davao del Sur, Davao de Oro, Davao Oriental, and Davao Occidental, its neighborhoods offer well-planned living spaces of comfort, convenience, and connectivity. Now in its 30th year in Davao Region, Camella renews its promise to keep family and community life at the core of innovation and progress, building a legacy of value for generations to come.

Camella’s residential developments are envisioned as more than a neighborhood-it is a lifescape: a place designed around how people live, learn, and aspire. For three decades, Camella has expanded into nearly a dozen locations across the Davao Region, offering homes that cater to first-time buyers and multigenerational households.

The neighborhoods of Camella are designed with a strong sense of place. Facilities, including clubhouses, swimming pools, sports courts, and jogging paths, promote well-being, foster friendships, and cultivate a sense of belonging. Such community-centric planning promotes active lifestyles and social ties, resulting in healthier, engaged neighborhoods that drive long-term property value.

The Camella Forever Homes are built for modern living, featuring efficient layouts, natural light, ample ventilation, and room to grow-made attainable through flexible financing options and long-term property management. Families can step onto the real estate market sooner, redirect resources toward education or business, and enjoy the compounded benefits of well-maintained communities.

Thirty Years in Davao: A Milestone and a Mandate

The scale, equity, and track record of Camella in the Davao Region translate to strong confidence among homebuyers and investors. Its homes are planned with an eye to future connectivity, neighboring projects, and regional growth. Homes become springboards for opportunity as families gain access to better financing terms, can move up or expand their portfolios, and pass on tangible assets to the next generation: turning the address of today into an advantage tomorrow.

The commitment of Camella is to keep building lifescapes that honor how Filipino families live in the present-and how they hope to live tomorrow-so that every hope becomes a home, every cluster a community, and every investment a lasting legacy.

The removal of foreign ownership restrictions on renewable energy (RE) projects in the Philippines has attracted 75 projects with 20 gigawatts (GW) of capacity since 2022.

As of August, the Department of Energy (DOE) has awarded to foreign firms 13 solar power contracts with a total capacity of 1,297.52 megawatts (MW), nine offshore wind (OSW) contracts with 5,510 MW, and 53 onshore wind contracts with 13,183.95 MW.

‘We recognize that private sector investment is central in achieving our targets. Hence, we are creating an enabling business environment to make RE more appealing to investors.

In 2022, liberalized foreign ownership rule is a clear signal to the world that the Philippines is open for clean energy business. To date, it has already attracted 75 projects, totaling 20 GW capacity, awarded to fully foreign entities,’ said DOE Undersecretary Rowena Guevara during the 2nd Philippines Future Energy and Grid Summit.

The policy, backed by a legal opinion from the Justice department, allows up to 100-percent foreign ownership in the exploration, development, and utilization of indigenous RE sources.

The 100-percent foreign ownership in RE projects, which facilitated faster entry of RE investments, is among the renewable policies that accelerated RE development in the country.

Other efforts include the simplified RE service contracts under the revised omnibus guidelines, energy virtual one-stop shop (EVOSS) system, expanded roof-mounted solar program (ERSP), net-metering program, green energy option program, renewable energy portfolio standards, and green energy auctions.

Overall, there are 1,371 RE contracts, with an installed capacity of 7.7 GW, awarded as of August this year. The potential capacity of these projects stands at 145.8GW.

Of which, 561 are solar contracts, 414 are hydro, 286 are wind, 72 are biomass, and 29 are geothermal.

The DOE is targeting a 35-percent RE share in the power generation mix by 2030, 50 percent by 2040, and over 50 percent by 2050.

Under the Philippine Energy Plan 2023-2050, there are six energy transition strategies cried by the DOE. The list include acceleration of RE development, with focus on OSW; smart and green transmission system to accommodate more RE capacity that will come online from 2024 to 2040; build port infrastructure to support OSW; voluntary early decommissioning or repurposing of existing coal power plants; decarbonize the transport sector through electric vehicles; and energy efficiency and conservation.

‘The challenges we face in meeting our nation’s energy demands are significant, but so is our resolve. The Philippines has long depended on imported fossil fuels, exposing us to volatile costs and climate risks.

That is our commitment to the Filipino people, and it is the driving force behind the Philippine Energy Plan (PEP) 2023-2050-our updated roadmap for transition,’ said Guevara.

The transition roadmap, she added, presents three scenarios. Reference (REF) Scenario, which targets a 35-percent RE share by 2030 and 50 percent from 2040 to 2050; Clean Energy Scenario (CES) 1 which has high RE with low OSW + nuclear + coal repurposing; and CES 2 which has high RE with high OSW + nuclear + coal repurposing.

‘These targets are not just numbers; they represent a fundamental shift in our national policy and a decisive step toward a sustainable future. This is a whole-of-government commitment. Our six energy transition strategies begin with the most urgent: accelerating renewable energy development,’ said the DOE official.

She noted, however, that the country’s energy mix paints a different story. In 2008, renewables made up 35 percent. Today, it is only at 22 percent.

‘This is not failure-it is a call to action. Our goals are clear: 35 percent by 2030, 50 percent by 2040, and beyond 50 percent by 2050. So, how have we begun this journey?

Our approach has been multi-pronged, with the landmark Renewable Energy Act of 2008 which truly catalyzed the RE sectors: biomass, geothermal, solar, hydropower, ocean, and wind-collectively: BIG SHOW,’ said Guevara.

The Department of Labor and Employment will allow emergency employment to selected persons in the areas heavily affected by the October 10 doublet earthquakes, as the Davao Oriental reported as many as 70,142 families were affected in the province alone.

The DOLE said it will implement the Tulong Panghanapbuhay sa Ating Disadvantaged Workers (TUPAD) program for 5,450 beneficiaries, mostly in the most affected towns of Davao Oriental.

Of the allocated slots, 4,950 beneficiaries will come from Davao Oriental, while the remaining 500 beneficiaries will be distributed across Davao City, Davao de Oro, Davao del Norte, Davao del Sur, and Davao Occidental.

The program will mainly be done through emergency employment and to be concentrated in the Municipality of Manay, the hardest hit by the recent tremors.

Beneficiaries will engage in debris segregation, materials recovery, stockpiling, clearing operations, and waste management activities in affected areas, DOLE XI Regional Director Atty. Randolf C. Pensoy said.

The emergency employment program will run for ten days beginning Monday.

He said the TUPAD, will help workers rebuild their lives by providing temporary income. The DOLE is allocating P28,067,500. Only P2,575,000 will be distributed in other parts of the region.

The allocated amount is inclusive of micro-insurance coverage for all beneficiaries to ensure their safety and protection while performing rehabilitation-related tasks.

Tarragona town mayor, Art Benjie C. Bulaong told reporters on Monday that of the 70,142 families affected across the province, his town has 10,160 of them, or approximately 40,100 individuals. He said the scarce resource has accommodated only 2,252 families in the temporary evacuation camp at the municipal capitol grounds and some 7,000 others were scattered elsewhere.

His town is the next town south of Manay and next to the provincial capital of Mati City.

He said he cannot order the evacuees to return home until the ground tremors will stop ‘because these people are scared, they are traumatized.’ He said the evacuees could not use the provincial and municipal evacuation centers because they were placed under Code Red, a category that placed structures in danger.

He said even the municipal government was holding office in other places and open spaces because the municipal capitol building was placed under Code Yellow, which placed structures under limited use and should need further assessment to their integrity and safety.

Bulaong said the town’s disaster fund was supposed to be P7 million but said it has been depleted as the year is about to end. The town’s quick respond fund is only P3 million.

In Davao City, the city building officials has tagged the Code Red to Malayan (Mapua) Colleges Mindanao administrative and school buildings, the Velvet Suites and Hote/Oroderm City, the Toledo Building 3 of Magallanes Residences and the part of SM Annex building where the Teleperformance Davao outsourcing firm was holding office and operation center.

The Office of the City Building Official also tagged a Code Yellow to the three buildings of Felcris Centrale, the parking building of Gaisano Mall of Davao-Bajada, the Vivaldi Residences Davao and the Mesatierra Garden Residences.

The OCBO conducted the assessment of structures with the Davao City chapter of the Philippine Institute of Civil Engineers.

The Department of Agriculture (DA) should prioritize the establishment of first-border inspection facilities as it is a critical investment for the protection of the country’s agricultural sector against pests and diseases, according to Senator Francis Pangilinan.

During the Senate Committee on Finance’s recent hearing on the DA’s proposed 2026 dget, the senator said establishing Cold Examination Facilities in Agriculture (CEFA) sites is a ‘long-overdue’ measure to strengthen the country’s agricultural biosecurity and protect local producers.

He pointed to past agricultural crises-such as the African swine fever (ASF) outbreak and the ‘cocolisap’ infestation-that caused massive losses in the hog and coconut industries, respectively.

‘ASF was precisely because we didn’t have that first border inspection, and that cost us at least for one year P70 billion, maybe more. Even the ‘cocolisap’ infestation, which cost us P4, P5, or P6 billion worth, was [due to] invasive pests,’ Pangilinan said.

The ASF outbreak during the Covid-19 pandemic forced the government to temporarily modify the rates of import duty for fresh, chilled or frozen meat of swine to stabilize supply and prices as the industry suffered from heavy losses.

‘Again, if there is a first border inspection by the Bureau of Plant, Bureau of Animal Industry, this could have been all avoided,’ he said.

While the total cost of the facilities could reach around P1.9 billion for five CEFAs, the DA can already begin construction on three sites to get the project under way, the senator said.

‘At least it is already starting. It’s really putting the necessary funding to prevent losses in the hundreds of billions. So, hopefully, for this year in the 2026 budget, it can be included, even just three,’ he added.

Building CEFA facilities, Pangilinan said, would allow for the early detection and containment of diseases and pests entering through imported agricultural products.

These facilities-equipped with modern laboratories, quarantine areas and inspection systems-are designed to examine imported meat, produce, and plant materials before they are distributed nationwide.

AS the nation honors its elderly during National Senior Citizens’ Week, a lawmaker shines a light on a group often left in the shadows-widowed Filipinos, especially senior citizens, struggling to start over after the loss of their life partners.

Through his newly filed House Bill 5395, or the proposed Widowed Persons Assistance Act, Quezon City Rep. Patrick Michael Vargas hopes to create a safety net for those who have lost their spouses, offering them temporary financial assistance, psychosocial counseling, livelihood support, and priority access to social services.

For many widowed individuals-especially senior citizens-the loss of a spouse means not only emotional pain but also financial hardship. Some are left without a steady income, while others face the loneliness of living alone in their twilight years, said the lawmaker.

‘Widowed persons form a special sector among our senior citizens who need to be recognized and cared for,’ Vargas said. ‘We will not let them grieve in isolation; instead, we will prepare them to face the challenges that come with losing their life partner.’

Data from the Philippine Statistics Authority (PSA) show that widowed persons make up 4.5 percent of the country’s total household population, and women account for about 76 percent of this group-a figure that underscores the vulnerability of older women who outlive their spouses.

While the proposed measure covers all widowed individuals regardless of age or sex, Vargas said it will benefit the elderly the most, given their limited capacity to find new jobs or start anew.

‘Our goal is to help elderly widows and widowers get back on their feet and rebuild their lives,’ he explained.

The lawmaker emphasized that this initiative builds on existing laws such as the Expanded Senior Citizens Act and the Universal Health Care Act, ensuring that widowed persons receive targeted support and attention.

‘If passed into law, this measure will not only give new hope to our senior citizens,’ Vargas said. ‘It will also be a testament to our government’s compassion-showing that we see them, we value them, and we will stand by them in their remaining years.’

THE push to scrap unprogrammed appropriations from the 2026 national budget gained more momentum as Senate President Pro Tempore Panfilo M. Lacson threw his full support behind the bid of Senate President Vicente Sotto III and Finance committee chairman Sen. Sherwin Gatchalian.

Lacson said that he will add his voice to the Senate’s stand if the Senate and House contingents meet on the matter at the bicameral conference committee.

‘Our agreement was that there will be no unprogrammed appropriations in the 2026 budget, but we will allow funding for foreign-assisted projects that are necessary. Funds in the unprogrammed appropriations for other purposes will be removed,’ he said in a mix of English and Filipino, in a radio interview.

Lacson’s remarks followed reports indicating the House of Representatives had rejected a proposal to slash the P250-billion unprogrammed appropriations when it completed its amendments to the 2026 General Appropriations bill on Friday.

House Appropriations committee chairperson Nueva Ecija Rep. Mikaela Suansing was quoted in reports as saying the government cannot afford to scrap contingent funding for foreign-assisted projects.

The Executive had also been quite firm on this stand, as initial reports indicated that funding for foreign-assisted projects cannot be withheld as this could imperil official development assistance (ODA) for critical programs.

Should the Senate and House maintain their conflicting stands, Lacson said the Senate will have on its side the Filipinos outraged by the corruption that was manifested in anomalous flood control and infrastructure projects.

Earlier, Lacson and his staff had confirmed the existence of flood control projects using unprogrammed funds in the budget.

‘We may have to confront this issue in the bicam. If I become a member of the Senate contingent to the bicam, I will add my voice to that of Senator Gatchalian, along with the voices of Filipinos who are outraged over corruption,’ he said.

Meanwhile, Lacson pushed anew for self-restraint among lawmakers in making amendments to the budget bill, and for introducing institutional amendments rather than individual ones for infrastructure projects that do not stem from consultations with the local governments concerned.

PCO has infra project?

GATCHALIAN has flagged an infrastructure project for the Presidential Communications Office (PCO) which the Department of Public Works and Highways (DPWH) was contracted to do.

Gatchalian cited the 2024 Commission on Audit (COA) Report that the then Presidential Communications Operations Office (PCOO) contracted the DPWH in 2019 to build the Government Communication Academy in Bukidnon (Phase II) worth P45.7 million. COA’s 2020-2023 report listed a similar project with a different amount-P79 million. The facility has no budget allocation for 2026, as funds have already been allotted for the completion of the remaining 10 percent of construction.

‘Why does PCO have a communications office in Bukidnon?’ Gatchalian asked. The PCO explained that the project, initiated under the Benigno Aquino III administration, was originally intended as a training center for communication offices under Malacañang and its attached agencies.

‘We’ve already spent P124 million, and the project is 90 percent complete. If we don’t finish this, it becomes a white elephant,’ said Gatchalian.

The PCO reported to the Senate plans are afoot to transfer the facility to the Northern Bukidnon State College once completed.

Presidential communications officials of the Aquino III administration headed by then Secretaries Herminio Coloma and Ricky Carandang have yet to issue statements.

CONSUMERS will have to pay more for electricity and gasoline.

The price of gasoline per liter will go up by P0.30, starting Tuesday. Meanwhile, kerosene prices will go down by P0.20 per liter while diesel price remain unchanged.

For power rates, the Manila Electric Company (Meralco) announced an increase of P0.2331 per kilowatt hour (kWh) for October. This brings the overall rate for a typical household to P13.3182 per kWh this month from P13.0851 per kWh.

For residential customers consuming 200 kWh, the adjustment is equivalent to an additional P47 in their total electricity bill.

Generation charge, which is a major component of an electric bill, went up by P0.1903 per kWh.

Charges from Independent Power Producers (IPPs) and Power Supply Agreements (PSAs) increased by P0.3622 and P0.3567 per kWh, respectively, primarily due to the depreciation of the local currency against the US dollar, which affected 99 percent and 48 percent of their respective costs.

The increase was tempered by lower charges from the Wholesale Electricity Spot Market (WESM) that went down by P2.0688 per kWh owing to a decrease of about 1,000 MW in Luzon’s peak demand.

IPPs, PSAs, and WESM accounted for 21 percent, 74 percent, and 5 percent, respectively, of Meralco’s total energy requirement for the period.

Transmission, taxes, and other charges also registered a total increase of P0.0428 per kWh.

Pass-through charges for generation and transmission are paid by Meralco to the power suppliers and the grid operator, respectively, while taxes, universal charges, and Feed-in Tariff Allowance are all remitted to the government.

Meralco reiterates that its distribution charge, on the other hand, has not moved since the P0.0360 per kWh reduction for a typical residential customer beginning August 2022.

Customers also continue to benefit from the ongoing implementation of the distribution-related true-up adjustment, equivalent to a reduction of P0.2024 per kWh for residential customers.

With the recent earthquakes affecting parts of the country, Meralco assured its customers that it continuously safeguards its distribution facilities from potential hazards to ensure the safety of both of its crews and customers.

Malacañang said the two-day ‘health break’ declared by the Department of Education (DepEd) for public schools aims to help prevent the spread of influenza-like diseases in Metro Manila.

‘They (DepEd officials) decided to prevent it from spreading by having a health break in schools so that students would not be infected and this would allow the cleaning of the schools in two days so that when the children return, they can be sure that their classrooms will be safe and clean,’ Palace Press Office Claire Castro said in Filipino in a press briefing last Monday.

During the weekend, DepEd announced that fact-to-face classes in public schools in the National Capital Region (NCR) will be suspended from October 13 to 14.

The affected schools were required to implement Alternative Delivery Modalities during the two-day suspension to prevent any disruption on the education of their students.

DepEd made the decision after the Department of Health (DOH) said flu-like cases nationwide reached 121,716 from January to September-eight percent lower compared to the 132,538 cases in the same period last year.

DOH defines influenza-like illnesses as a condition with sudden onset of fever of more than or equal to 38 Celsius and cough or sore throat in the absence of other diagnoses.

Citing DOH, Castro said the uptick in flu-like diseases was expected as the weather becomes cooler with the upcoming Christmas season.

She allayed public concerns on the disease and said the government is implementing the necessary measures to minimize the risk of the flu-like diseases from infecting more people.

THE country’s key policy rate could still be lowered by the Monetary Board in its final rate-setting meeting for this year and through 2026, according to BMI, a Fitch Solutions Company.

In its latest commentary, BMI forecasts a further 25-basis points rate cut in December and 50-basis points more next year.

The Monetary Board, the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP), reduced the key policy rate by 25 basis points to 4.75 percent, defying market expectations of a pause.

BMI said the BSP’s dovish tone signaled that it was poised to ‘frontload easing’ to support the economy, projecting another 25-basis-point cut in December that would bring the policy rate to 4.50 percent by end-2025.

The central bank said in its press release after it delivered a rate cut that it sees a ‘scope for a more accommodative monetary policy stance’ and the ‘favorable inflation outlook and moderating domestic demand provide room to further support economic activity.’

BMI said the ‘downbeat assessment’ of the economy and BSP Governor Eli M. Remolona Jr., alluding to weakening business sentiment due to ‘governance concerns over public infrastructure spending,’ suggests the BSP is coming round to its view of a further rate cut.

BMI added that there are also signs of a slowdown abound, with the Philippine Stock Exchange index (PSEi) recently closing at a near six-month low and slow merchandise export growth.

Moreover, BMI projects inflation to average at 3.5 percent, slightly higher than the BSP’s forecast of 3.1 percent in 2026.

BMI also noted a counterargument that the peso’s recent weakness could prompt the BSP to pause further easing in December, as the currency closed nearly 1 percent lower at P58.44 per US dollar after the BSP’s decision.

BSP’s gross international reserves, at an 11-month high of $108.8 billion, would also provide a sufficient buffer to defend the currency.

Further, BMI pointed out that the US Federal Reserve’s anticipated rate cut in October will widen the interest rate differential between the Philippines and the United States to 75 basis points, before narrowing again in December.

As for 2026, BMI said it maintains expectations of a 50-basis point rate cut, bringing the policy rate down to 4 percent.

‘For one, the US-Philippines trade deal, which leaves 19 percent tariffs on Philippine goods in exchange for none on American ones, will weigh on the trade balance in 2026,’ BMI said.

‘For another, business confidence is likely to remain weak amid graft concerns and unpredictable US trade policy,’ it added.

While further monetary easing could help stimulate demand, BMI said the BSP may ease at a ‘more measured pace’ to allow the effects of earlier cuts to feed through.

Risks to the outlook, BMII added, are tilted toward more rate cuts in 2026 should the corruption scandal spread to other infrastructure projects, dampening business sentiment and widening the output gap.

‘With inflation expectations remaining well anchored, the BSP could prioritize the economy and deliver more policy rate cuts in 2026,’ BMI said.

The government would likely exclude imported sugar from the minimum access volume (MAV) scheme next year as the country has ample supply, the Sugar Regulatory Administration (SRA) said.

SRA Administrator Pablo Luis Azcona told the BusinessMirror that the government may not open the MAV for sugar in 2026.

Sugar has been excluded by the Department of Agriculture (DA) in applications for MAV for two years.

‘The way we’re managing our sugar stocks, I don’t think there’s any need for MAV,’ Azcona told this newspaper on the sidelines of a recent Senate hearing on the DA’s proposed budget.

‘We have no shortage, the supply is stable, and the prices are also stable. So for now, I don’t think there’s a need for it.’

The Philippines last allowed sugar MAV in 2023 after the average retail price of refined sugar skyrocketed to P100 per kilo in the latter part of 2022 from P53 per kilo in the previous year as stockpiles were depleted.

Sugar imports within the MAV are levied with a 50-percent tariff while shipments outside MAV are slapped with a 65-percent tariff.

Meanwhile, Azcona allayed concerns regarding sugar shipments, saying that importation is off the table for now.

‘Since milling has started, we will not talk or discuss about importation or plan about importation until May to June [next year] where we have definite production numbers unless there is really a warranted need or a spike.’

‘That is our promise to the farmers: as long as they are milling and we have no definite production numbers, and there is no warranted need, we will not discuss importation at the moment.’

Figures from the SRA showed that the country’s raw sugar output settled at 2.085 million metric tons (MMT) in the previous crop year 2024-2025.

Some 226,693 metric tons (MT) of the 424,000 MT approved import volume under Sugar Order 8 in the same crop year have entered the country as of September 28, based on the latest SRA data.

For crop year 2025-2026, the SRA said raw sugar production could fall to 1.92 million metric tons (MMT) as torrential downpours and pest infestation battered plantations in Negros, which accounts for 65 percent of total output of the sweetener.

However, the agency noted that output in the current crop year may even be lower than the initial forecast owing to the potential impact of red-striped soft-scale insects (RSSI) infestation on yield.

‘It’s an estimate based on the heavy rainfall experienced in the north of Negros, and [there] might be a small drop considering the presence of RSSI,’ Azcona said.

The average price of refined sugar in Metro Manila remains stable at P84.77 per kilo, while raw sugar settled at P76.38 per kilo, latest SRA reports showed.