PH wheat supply sufficient for 3 months – DTI (Sabong News)
Author
Bernie Cahiles-Magkilat
Date
MARCH 14 2022
The Department of Trade and Industry (DTI) has assured that prices of bread will remain stable at least in the next three months as orders for the supply of wheat had been ordered and paid for to last for three-month domestic requirement.
DTI Secretary Ruth Castelo said this during a press conference for the Consumers World celebration that both the Philippine Baking Industry Group and the Philippine Association of Flour Millers (PAFMIL) already assured the DTI of sufficient wheat supply and stable prices for the next three months.
Castelo said this in reply to questions following Cong. Joey Salceda’s statement on the possibility of P2 hike in the price of bread. Castelo noted that DTI approved recently a P3.50 increase in the suggested retail prices (SRP) of Pinoy Tasty and P2.50 for Pinoy Pandesal.
PAFMIL told DTI that the order for the first month is already here while the supply for next month is already in transit and the third month has already been ordered and paid for.
“So, the status is we have sufficient supply and stable prices will not increase due to wheat,” said Castelo. “So, there is no reason to raise prices except for distribution cost which is very minimal (3-5 percent of cost).”
Even as fuel prices are skyrocketing and affecting all commodities globally, Castelo said that prices of basic goods at present are still stable because of sufficient inventory. There has been no movement yet except distribution cost.
Ifever, Castelo said prices of canned sardines have direct and immediate impact because they have little inventory. Even then, she said, only one among several canned manufacturers has asked for price adjustments. DTI will have to study the petition yet.
