DTI: Bread prices likely to go down in April

Consumers can expect a rollback in prices of bread and flour-based products this April as prices of flour, sugar and cooking oil have gone down, the Trade Department said Wednesday. Trade Undersecretary Zenaida Maglaya said sugar is now at P55 per kilo, while prices of flour and cooking oil had also gone down. "We expect prices of sugar to continue going down, now that the milling season is peaking. We have seen some markets selling sugar at prices as low as P55 per kilo. We hope to see this going down. Prices of cooking oil are also expected to go down in April while flour prices are also going down. So we expect some good news in prices of flour and flour-based products like bread," Maglaya said in an interview on dwIZ radio. She reminded bakeries they should rollback prices of their products when prices of raw materials go down, adding the DTI will keep close watch on their price tags. “Dapat pagbaba ng presyo ng trigo and ibang mga sangkap sa paggawa ng tinapay dapat magkaroon ng sapat na rollback. Babantayan natin ito nang mabuti," she said. Meanwhile, Maglaya said the DTI has issued show-cause orders to at least 420 business establishments for selling basic goods higher than the suggested retail prices (SRP). She did not name the establishments or specify what basic goods they were selling above the suggested price. “Those retail outlets were selling prices above the SRP. If they cannot explain their high prices, they may face charges for overpricing," she said. “So far, majority are cooperating and do not want to raise the prices of their products," she added. — LBG, GMA News