MANILA, Philippines - The Department of Trade and Industry (DTI) reported yesterday that the price of pan de sal would remain at P1.50 apiece after bakers committed not to increase prices as long as flour millers will not raise theirs.
The Philippine Baking Industry Group (Philbaking) said they will not increase their prices until the end of January and might only do so in mid-February.
By mid-February the price of loaf bread is expected to increase by P1.50 and pan de sal will cost 75 centavos more per pack of ten.
Trade Undersecretary Zenaida Maglaya told a press conference that they have received a commitment from Philbaking president Walter Co that they will hold off price increases.
“We told the bakers until you could show us the receipt that you are buying expensive (flour) don’t increase your price first and they agreed with us,” Maglaya said.
Maglaya said that up to now, the price of flour and bread has remained the same.
“There has been no increase in the price of flour even if they said that they will increase the price,” Maglaya stressed.
She said flour millers still have not formally informed them of any increase in price. She said she met with the Philippine Association of Flour Millers (PAFMIL) last Wednesday and was informed that they would implement the P20 per bag price increase in February.