Bakers, flour millers clash on bread price hike
  • 5 years ago
MANILA -- Bakers and flour millers differed on how much bread prices should be hiked following an impending increase on the tariff of imported Turkish flour. Bakers estimate the increase to be about 20% to 30%, while flour millers said the hike should only be some 2%. "Based on our computation, 20 to 30% based on what they're selling now on the finished product, unless there's an adjustment on other ingredients it may go further [up]," Benito Lim, president of the Filipino-Chinese Bakery Association, said. But Ric Pinca, executive director of the Philippine Association of Flour Millers, countered: "Even if the duty is raised on Turkish flour, it will only lead to a P63-increase in the price of Turkish flour... If you divide that P63 on the number of loaves that you produce, say 97 loaves, it will only be 65 centavos." Trade Undersecretary Zeny Maglaya meanwhile said they are looking for a "win-win" solution for industry players and consumers. -- with a report from ANC