Bread prices in the Philippines will increase starting February 1

After holding off price hikes on Pinoy Tasty and Pinoy Pandesal last year, bakers are raising prices by as much as P3 per loaf and P1.50 for the pandesal pack. Johnlu Koa, president of industrial bakers – Philippine Baking Industry Group (PhilBaking), said the price hike is expected to take effect on Feb. 1, 2022. This means prices of Pinoy Pandesal loaf will be at P38 from P35 and Pinoy Pandesal to P23 per pack from P21.50 at present. Koa said the price hike has become necessary as prices of flour now climbed to P1,000 per 25 kilogram bag from P955 late last year and P690 in August of the same year. The rule of thumb is that for every P50 increase in prices of flour, there is a corresponding P1 increase in prices of bread. Koa noted the price of flour is more than the P3 increase per loaf. “This is brought about by increase of consumption in China which starting buying wheat grains while Russia has slowed down their wheat exports because of food security issues and wheat crop ...