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Business

Bakers urge DTI to look into high flour prices

- Ma. Elisa Osorio  -

MANILA, Philippines - Bakers yesterday urged the Department of Trade and Industry (DTI) to look into the high flour prices because freight and foreign exchange costs have already gone down.

 In an interview on the sidelines of the IBA 2012 World Market for Baking Press Presentation, Philippine Baking Industry Group (Philbaking) president Walter Co said that flour millers are selling at P920 per bag.

 He said wheat prices in the world market are the same as 2008 levels but the other costs have gone down like foreign exchange because the peso continues to strengthen against the dollar. Freight costs, he said have likewise decreased by 40 percent. “Why are they selling at 2008 level,” he questioned.

 Co said they have already submitted their computation to the DTI last April. He said the DTI promised to speak to the bakers but up to now flour prices are still high. Co said this is the reason why they had to increase the price of the Pinoy Tasty by P1. The price adjustment took effect last Monday.

 At the same time, Co said millers were unable to supply them with the promised 5,000 bags of low cost flour per month for their Pinoy Tasty. The Pinoy Tasty is an alternative to commercial bread because it is more affordable at P39 per 450 gram loaf. The Pinoy Tasty uses fewer ingredients but is sold under various brands like Gardenia and French Baker.

 Co said they were asking if the allocation could be increased to 10,000 bags per month but said they could not even get the promised 5,000 bags. “There has been zero allocation until now.” Co said there are 11 millers but only three supply to bakers who produce the Pinoy Tasty. He refused to name the millers.

BAKING PRESS PRESENTATION

DEPARTMENT OF TRADE AND INDUSTRY

GARDENIA AND FRENCH BAKER

PHILBAKING

PHILIPPINE BAKING INDUSTRY GROUP

PINOY

PINOY TASTY

TASTY

WALTER CO

WORLD MARKET

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