Local bakers said they will reduce bread prices starting Nov. 7, after the cost of flour declined.
The Philippine Baking Industry Group Inc. announced the price cut to the Trade Department’s consumer protection group. Philbaking said bread prices would be cut by 50 centavos for Pinoy Tasty and 25 centavos per 10-piece pack of Pinoy Pandesal
“We will push through with the P0.50 reduction. We started issuing the price list to supermarkets already early this week,” Philbaking president Nestor Constancio said.
He said in a report to Trade Undersecretary for consumer protection Victorio Dimagiba said the group was ready to hold another round of price reduction on Pinoy budget breads.
Dimagiba said flour prices fell by as much as P50 per 25-kilogram bag. Flour now retails at P830 to P900 per bag.
“Bakers are doing this on their own. They said they are just giving what the consumers ought to have, since the price of [flour] went down. They may soon announce another 50 centavo reduction on Pinoy Tasty and another 25 centavo for Pinoy Pandesal,” he said.
Source: Manila Standard
By: Othel V. Campos
Date published: October 29, 2014
MASARAP FOOD PHILIPPINES