MANILA, Philippines - The prices of pan de sal and loaf bread are expected to go down in two weeks after flour millers vowed to reduce prices from P790 per bag to P740 per bag.
Trade Undersecretary for Consumer Welfare Zenaida Maglaya said she received a report from flour millers that they would reduce the price of flour that now ranges from P770 to P790 per bag to P740 per bag.
Simplicio Umali Jr., former president of Philippine Baking Industry Group Inc. (Philbaking), said the price of loaf bread would go down by P1 while a ten-piece pack of pan de sal would go down by 50 centavos. Umali said the price adjustment would be implemented in two weeks’ time.
Maglaya said the trade department is not satisfied with the committed price reduction of flour prices.
Flour millers have until Wednesday to explain why their prices are not back to 2007 levels when the price of wheat in the world market has dropped significantly. Flour was sold for P670 per bag in 2007.
“What we want is to return the price of pan de sal to P1 for 25 grams (piece of bread) after flour millers drop their prices,” Maglaya said.