Wheat prices have already gone up to over $500 per metric ton triggering a potential increase in wheat flour prices of P15- P20 per 25-kilogram bag starting next week, according to the Philippine Association of Flour Millers Inc. (PAFMIL). Ric Pinca, PAFMIL executive director, said it is possible t
Photo by Pixabay from Pexels.
There is a global wheat shortage. The Philippine Association of Flour Millers, Inc. (PAFMI) mainly attributes this to the war between Russia and Ukraine, which collectively supply a third of the global wheat supply.
Wheat exports from Ukraine are blocked by the Ru
While the Philippine supply of wheat-milled flour remains adequate this year, the country’s flour millers expect prices of flour to continue to grow due to higher global wheat prices.
With flour prices seen to remain high due to external factors like the ongoing Russia-Ukraine conflict, the country’s flour millers are recommending lowering of tariffs for other imported baking ingredients to help bakers.
The Department of Trade and Industry (DTI) has confirmed that some manufacturers of basic needs and prime commodities (BNPCs) have submitted their requests for price increase, but said there is no recommendation to adjust prices yet.
logo-DTI DTI Undersecretary Ruth Castelo said the requests for