DTI says bread price stable as sugar, milk prices up

MANILA, Philippines - Bread prices are expected to remain stable despite the increase in the prices of milk, sugar and eggs, the Department of Trade and Industry (DTI) said yesterday.

“The department expects no increase in Pinoy Pandesal and Pinoy Tasty since milk and eggs are not the ingredients for the production of said bread,” the DTI said in a statement.

Flour prices are stable and community bakers have given assurances that there will be no price and size adjustment on bread, the DTI added.

The Pinoy Pandesal costs P22.50 per 200-gram pack, while Pinoy Tasty is priced at P37 per 450 g loaf.

Meanwhile, the new suggested retail prices (SRP) for milk products are as follows: P38.15 for a 410-milliliter can of Angel evaporated milk, from its previous price of P36.80; P38.20 for a 370 ml can of Alaska evaporated milk from P37; P53 for a 300 ml can of Alaska condensed milk from P51.30; P58.10 for the 150 g Birch Tree Full Cream powdered milk from P53.80; P51 for the150 g Bear Brand full cream milk from P48.50; and P77.42 for the 160 g Nido Fortified full cream milk from P77.

The DTI approved higher SRPs for evaporated, condensed and powdered milk products in the face of price hikes in the main ingredients such as skimmed milk and whole milk in the world market.

But the DTI rejected requests for higher SRPs on canned meat and toilet soap.

The DTI said prices of raw materials for canned meat are on a decline, while requests for SRPs on toilet soap need more justification.

On the request for higher SRP on bottled water, the DTI said evaluation is ongoing, citing higher price of bottle cap and resin.

The DTI said it will continue to monitor with other agencies such as the Department of Agriculture (DA), Philippine National Police, National Bureau of Investigation and Office of Food Security and Agricultural Modernization the price and supply of products classified as basic necessities and prime commodities as ordered by President Aquino during a meeting last week.

The President also requested the DTI to assist the DA in proposing the SRP for garlic.

The National Bureau of Investigation (NBI) has started coordinating with the DA, National Food Authority and Bureau of Customs, among other agencies, to check on hoarding and cartel-like activities, which caused prices of essential commodities to increase.

“They are checking the prices and supplies in the markets and supermarkets to determine if the supply is enough,” NBI director Virgilio Mendez told The STAR.

Price control

Lawmakers also stressed the need to set the SRP of rice, garlic, ginger, pork, chicken and other basic commodities.

House committee on agriculture chairman Batangas Rep. Mark Llandro Mendoza and special committee on food security head Butil party-list Rep. Agapito Guanlao, during a joint hearing into the rising prices of food items, said price control is an option the government should take to stop unreasonable price hikes.

“It is the millions of ordinary families that are seriously affected by the rising prices of essential market products, especially food items. Government should act quickly to address it,” Mendoza said.

Guanlao said price control is a temporary but immediate response to surging prices.

The members of the two House committees also urged the National Food Authority (NFA) to revive the Bigasang Bayan rolling stores to reach out to depressed communities.

NFA administrator Arthur Juan said NFA market participation in rice has doubled from 12 percent to 25 percent, but raised concern on the “faster depletion of NFA stocks.”

He said the NFA Council has increased its rice buffer stock by importing 800,000 metric tons, which is due to arrive in August, and another 250,000 MT to arrive in August and September to fill the gap. Another 300,000 MT is also in the pipeline, he said.

Officials from the DTI said market items could also be included in the coverage to address hoarding and price manipulation.

Agriculture Assistant Secretary Leandro Gazmin told the committees the increase in the price of garlic is artificial and could be due to price manipulation.

He said the agency immediately dispatched rolling stores in selected wet markets to sell cheaper local garlic. He said they are also consulting with various sectors on the possible revision of the guidelines on importation.

Bureau of Plant Industry director Clarito Baron said import permits have been given to 56 accredited farmers’ organizations and traders. He said the drastic slide in the volume of importation and control of the issuance of import permits might have contributed to the increase in garlic prices. – With Paolo Romero, Aie Balagtas See