MANILA - Local flour millers assured that it would no longer ask the government to extend its order to remove tariffs on wheat imports.

President Arroyo first issued Executive Order 765 in November last year, which lifted the 3% import duty on wheat. She then issued EO 818 when EO 865 lapsed in July to extend the tariff removal.

"We believe that the one-year zero duty privilege granted to the wheat flour milling sector through 2 executive orders, numbered 765 and 818, is enough to stabilize the price of flour and flour-based products in the country," Philippine Association of Flour Millers Ric Pinca said.

The wheat flour milling sector has reflected the zero tariff and lower wheat import prices in the cost of flour, which has gone down by more than 20% since 2008.

The ex-mill price of hard flour, which is primarily used for breads, has dropped to P750 per 25-kilogram bag from last year's P970.

The price of soft flour, which is used for pastries, cookies, and cakes, have also gone down to P650 per bag from the previous P870.