The Department of Trade and Industry (DTI) has revealed that the price of bread is expected to stabilize as the prices of raw ingredients, such as wheat, have been going down in the world market.
This developed following a price inspection team led by DTI-Consumer Protection Group (CPG) Undersecretary Ruth B. Castelo and Fair Trade Enforcement Bureau (FTEB) Officer in Charge Director Marimel Dancel Porciuncula in supermarkets and groceries showed stable prices on the grocery shelves, a news statement issued on Monday read.
The DTI said the inspection was conducted to check if prices and supply of basic necessities and prime commodities (BNPC) comply with the recent DTI memorandum, which directs the monitoring of availability and retail prices of white and/or washed sugar, including the observance of the agreed purchase limit by participating establishments that supported President Ferdinand “Bongbong” R. Marcos Jr.’s call for setting the retail price of white and/or washed sugar at P70 and its purchase limit at 1 kilo per consumer.
Castelo and Porciuncula spearheaded the DTI price monitoring teams in visiting four firms. They checked the prices of salt in a supermarket in Manila. Both asserted that there is no shortage in the supply of salt. Hence, they said, there is no drastic price movement expected.
The trade officials also inspected the price of bread. They noted that prices of bread are expected to stabilize as prices of its raw ingredients such as wheat have been going down in the world market.
Prices of Pinoy Tasty and Pinoy Pandesal were among the 151 Stock Keeping Units (SKUs) of the goods that maintained their prices in the August 12 Suggested Retail Price (SRP) bulletin relative to the May 11 suggested retail price (SRP) list, while 67 products adjusted their SRPs due to rising prices of raw materials, among others.
Based on the latest SRP list, the price of Pinoy Tasty is still P38.50 and Pinoy Pandesal still at P23.50.
Johnlu Koa, the president of Philippine Baking Industry Group (PhilBaking) said two weeks ago that they will send a letter to Trade Secretary Alfredo E. Pascual regarding their request for a P4 price increase on bread.
Also among the products that were monitored are the Noche Buena products. “While the prices of the products remain stable, Usec. Castelo advised the public to start storing up for the coming holidays,” the DTI said in a news statement on Monday.
Upon the inspection, the trade department has noted that all the firms comply with the latest SRP or price guide bulletin. In addition, DTI said three implement the P70 retail price of white and/or washed sugar; and two implement the purchase limit of white and/or washed sugar while a firm does not strictly implement the purchase limit because it has a stable supply to meet the demand.
Apart from the three participating supermarkets implementing the P70 retail price of white and/or washed sugar, the team also visited a non-participating grocery store. The owner expressed that it is beyond the ability of small retailers like them to participate in DTI’s program, as it will risk them of losses.
Castelo urged supermarkets, hypermarkets and groceries to comply with the SRP bulletin and respond to the consumers’ call for reasonably priced sugar.
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