Manila, Philippines - The price of Pinoy Tasty will increase by P1 per loaf starting Monday as flour costs continue to rise but the price of other bread products will remain unchanged.
In an interview, Gardenia chief and Philippine Baking Industries Group (Philbaking) past president Simplicio Umali Jr. said that Pinoy Tasty will be sold for P39 per loaf starting May 10.
Umali said that the increase in prices is mainly due to higher flour prices.
Umali said that before, they were able to get flour for P820 per bag. However, it has now ballooned to P920 per bag which is also the price of premium flour.
Umali said they are open to a price roll back once flour prices go down or if millers give subsidized prices for the Pinoy Tasty. He noted that millers only allot 5,000 bags for Pinoy Tasty every month. This flour is sold at a lower price but Umali said that this is not enough because Gardenia alone consumes 2,750 bags of flour for Pinoy Tasty monthly.
Gardenia supplies half of the demand for the Pinoy Tasty.
Umali said they would like millers to raise their allocation. He said millers should double the subsidized flour to 10,000 bags per month because right now the bakers need to divide the 5,000 bags and produce 400,000 loaves of Pinoy Tasty. Umali said this is not enough to supply the whole Philippines.