MANILA — Consumers may have to brace themselves for hikes in bread prices after bakers filed a petition with the Department of Trade and Industry to jack up prices of loaf bread by P1-P1.50 and of a 10-piece pack of pan de sal by 50-75 centavos.
No increase was sought for the generic loaf bread Pinoy Tasty, which was currently priced at P39 a loaf.
In a telephone interview, Philippine Baking Industry Group president Walter Co said the petition was filed last week and was supposed to be discussed in a meeting with DTI officials last Thursday.
However, the meeting was cancelled at the last minute due to the absence of Undersecretary Zenaida Maglaya. No other schedule was given.
Instead of waiting for a chance to sit down with DTI officials regarding their price hike petition, Co said bakers would be detailing their justifications in a letter addressed to the DTI.
In the letter, he said the bakers would present prices of individual relevant factors of production – such as flour, cooking oil, and shortening – which had increased prices over the past months.
Also, it would include the bakers’ own computation of what level flour prices should be, considering the huge drop in freight costs and the strong peso./INQUIRER