Thursday, November 13, 2008 Bread prices to go down
BAKERS groups on Wednesday announced that they will be having an initial rollback on bread prices starting next week.
At a press conference in Makati City, Philippine Federation of Bakers Association Inc. (PFBAI) vice president Lucito Chavez said their group would slash P1 in the prices of loaf breads and 50 centavos in the price of "pan de sal" or salt bread.
Prices of flour in the local and international market starts going down, thus the cut in the prices of breads.
Aside from the lower price, Chavez also assured that the public can once again enjoy a slightly bigger pan de sal.
"The prices of pan de sal will go down by 25 centavos per 10 pieces. But we will retain the price of a P2 pan de sal. Instead, we will just add another two to three grams to our current 25-30 grams pan de sal," he said.
Other bakers groups such as the Philippine Federation of Bakers Association Inc., Philippine Baking Industry Group (PhilBaking), and Filipino-Chinese Bakeries Association Inc. agreed to slash the prices of bread products, according to Chavez.
The current price of a 25-kilogram bag of hard flour is P940, from the previous P957.
Earlier, flour millers assured consumers that there would be no increases in the price of the commodity until the end of the year.
They said the recent drop in flour prices was due to decreasing prices of wheat grains in the global market.
The fierce competition among flour millers for a larger share of the market during the Christmas season is pulling down prices, they added.
Consumption of flour historically goes up during November and December because bakeries and food manufacturers stock up on flour due to a rising demand for bread products for the holiday festivities. (AH/Sunnex)
