Bread price rollback seen next month

MANILA, Philippines - Consumers can expect a rollback in the price of bread starting next month after local flour millers slashed rates anew last month, the Department of Trade and Industry (DTI) reported yesterday.

In an advisory, Trade Undersecretary Victorio Mario Dimagiba said prices of a pack of bread loaf and pan de sal would go down by 50 centavos to P1 starting mid-November.

He said bakeries would have to add one piece of pan de sal for the same price charged for 10 pieces.

Dimagiba said the rollback of prices was decided following a recent meeting conducted by the DTI with the flour millers and bakers.

According to Dimagiba, millers lowered the prices of flour by P20 to P40 per 25-kilogram bag in September.

Local millers earlier reduced prices by P20 to P80 per bag after the DTI started an investigation last June on flour prices that had not reflected the declining prices of wheat in the international market.

The DTI said it is not pursuing charges against flour millers and bakers for alleged collusion after they decided to finally adjust prices.

“So far I like to report almost 100 percent compliance among bakers and millers. So I would like to thank all in the industry for hearing the DTI request to transfer to consumers the better price of wheat,” he added.