Prices of bread, instant noodles to go up again
abs-cbnNEWS.com | 09/08/2008 4:47 PM
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Due to rising prices of flour in the world market, the prices of bread and instant noodles – which both list flour as a main ingredient – will go up within the next two weeks.
There will be no stopping the increase in bread prices next week. Bakers said this is still because of the high price of flour which, despite appeals from the Department of Trade and Industry (DTI), continued to go up.
The last increase was implement last August, and it brought flour prices to almost P1,000 per sack.
Based on their calculations, they have to increase the price of a 600 gram loaf bread by P1.50, while pandesal will have to increase by P0.10 to P0.25 a piece.
However, it is still up to bakers if they prefer to just lessen the weight of their pandesal instead of raising their prices.
Four brands of instant noodles are also set to raise prices.
This is the second increase in the price of instant noodles in a span of two weeks.
Prices of instant noodles are expected to go up by up to 4 percent, thus a leading brand which used to cost P6.80 will go up to P7.00.
Bakers groups met again with the DTI earlier Monday to appeal for a government intervention in the prices of flour.
This is because the price of wheat in the world market has dropped significantly in the past months. From a record high of $895 per metric ton in March, it has gone down to $415 at present.
The DTI is scheduled to meet with flour millers for a second time Tuesday.
The bakers group assured that they will roll back the increases that they will implement next week if the flour millers will agree to the roll back of flour prices. Zen Hernandez, ABS-CBN News
