BACOLOD CITY, Negros Occidental, Philippines – Some bakers here might have no choice but to raise their prices by at least 50 centavos as prices of flour and sugar continue to rise, too.
Department of Trade and Industry senior development specialist Romel Amihan said flour products do not have Suggested Retail Prices (SRP) but added their monitoring showed its price for the month of January and February, this year, at P945 per 25-kilogram bag.
It rose to about P20 or P965 per bag in March and April and is now selling at P1,005.
Amihan said prices vary depending on the brand.
As of the last week of June, refined sugar in supermarkets here is sold for as much as P73 per kilo from the previous month’s P71
Sugar Regulatory Administration chief Hermenegildo Serafica had earlier said they have been disclosing projections relating to the drop of sugar supply in the market.
He added that as early as February they have already projected a deficit in sugar supply largely because of weather disturbances such as typhoon Odette, excessive rain and overcast skies which have been damaging to the growth and sugar content of sugarcanes.
A bakeshop owner here in Bacolod posted in her social media account saying the wholesale price of refined sugar is now at P4,400, raw sugar at P3,000; and flour at P1050.
By next week, she said they will increase prices of breads by .50 cents to P3 so they can keep up with any possible losses.