Millers, Bakers Cut Prices of Flour, Bread

(PNA) — Some local flour millers and bakers have followed the demand of Department Trade and Industry (DTI) to cut prices of flour and bread after a significant 30 percent reduction on prices of wheat in the international market.

DTI Consumer Protection Group Undersecretary Victorio Mario A. Dimagiba said in a press briefing on Thursday eight flour millers and four bakers are implementing price roll back on flour and bread commodities.

Universal Robina Corp. reduced its Globe flour price by Php20 from Php803 per 25-kilogram bag to Php783; RFM, slashed prices of its three flour brands from Php60 to Php80 per bag; Pilmico cut price of Kutitap flour by Php40 from Php830 to Php790; Morning Star decreased price of Angel White flour by Php20 from Php835 to Php815; and Wellington for its Premium brand sliced its price by Php30 from Php930 to Php900.

Dimagiba also mentioned that there are three new millers which also offer competitive prices of flour including Atlantic Grains’ Primera brand from Php800 to Php840 per bag, New Hopes Baby Panda flour at Php630, and Asian Grains flour at Php820.

“The new prices of flour are within the DTI computation which we announced last month,” he noted.

He added that lower prices of bread will follow after the reduction on prices of flour.

Dimagiba said starting next week, July 14, Pinoy Tasty will cut price of loaf bread by Php0.50 to Php36 while its Pinoy Pandesal will cut price by Php3.00 per 10-piece pack to Php22.

On the same date, Tinapayan Festival and Liberty Foodmart will reduce prices of loaf bread by Php1.00.

Sunmaru’s Tifanny loaf bread and Creative Bakeries’ Walter and Real Good loaf bread will also roll back bread prices by Php0.50 starting July15 and August 4, respectively.

Gardenia is also expected to announce its new prices of bread, according to Dimagiba.

It will be recalled that DTI has demanded for lower prices of flour and bread last month after prices of wheat in the international market declined by 28.83 percent from January to April 2015 from the same period in the previous year.

However, most of millers and bakers declined to adjust prices which made the DTI to tap the National Bureau of Investigation (NBI) to probe prices of flour of 16 millers and prices of bread of 12 bakers.

Dimagiba said the DTI will withdraw probe on millers and bakers which implement price roll back while pursuing on players not adjusting flour and bread prices. (PNA) CTB/KMC