Homepage  Homepage     Search on site  Search on site     To write the letter  To write the letter     Site map  Site map
Agro Perspectiva
We are on: 
   

Photoblog

 


Home > News

Philippine flour millers say prices to rise in September

19.08.2010 11:34 "Agro Perspectiva" (Kyiv) FLOUR PRICES will increase by as much as a tenth next month with a drought abroad reportedly making the cost of wheat — an input — more expensive, an industry group yesterday said. Hard flour used for bread will sell for P750-P760 per 25-kilo bag, or up to P70 more than the current P690-P700 ex-mill levels, the Philippine Association of Flour Millers (PAFMil) said in a statement. Soft flour used for cookies and similar pastries will also increase by roughly 12% to P650-P660 per bag, the group said. This comes as global wheat supplies dwindle due to a recent Russian move to secure that country’s food stocks amid a bad harvest season by banning grain exports, the group said. PAFMil cited the reported increase in prices in the global wheat futures market which the group claims was 43.5% higher in August than the June contracts. «Local wheat flour millers will have to raise flour prices to reflect the higher cost of wheat. The schedule of price increases will vary per mill due to their marketing strategies and market position,» the group said. PAFMil Executive Director Ricardo M. Pinca clarified via text, however, that the price hikes, while varying among companies, would take effect next month. Sought for comment, a bakers’ group said the planned price hike — which they complained was premature — would cause an increase in bread prices and therefore hurt their sales. «If they (flour millers) buy their wheat now, it usually takes three months to mill. The price hike is too premature,» Philippine Baking Industry Group President Walter Co said in a telephone interview. The flour price hike will cause loaf prices to rise by P1-P1.50, while a 10-piece pack of pan de sal will cost P0.50 more, Mr. Co said. Currently, loaf prices stand at P48-P54 while one pan de sal can sell for P2.75-P3, he said. «We won’t be able to absorb the flour price increase [and put off a bread price hike]. Sugar prices are already high,» Mr. Co said. Plans for an industry-wide launch of a budget loaf next month will continue, he added, but prices may be less consumer-friendly than planned. «Definitely it (higher flour prices) will have an impact,» Mr. Co said. Trade officials could not be immediately reached to comment if the government will intervene. The Trade department had earlier hinted it will recommend keeping wheat tariffs at 0% to benefit consumers, as Executive Order 863 which temporarily eliminated the 3%-5% duty is slated to lapse this month. The Trade department had also earlier filed administrative charges against flour millers for alleged profiteering after orders to lower flour prices were ignored. The case had been dismissed on a technicality, although officials have said they will re-file the case in a bid to lower flour prices.

Agro Perspectiva

< Within Jul companies enhanced sausage products output by 1%, up to 23,900 MT All news for
19.08.2010
Chinese buyers interested in U.S. soybeans >

03.07.2020  
14:10 Record global cereal production to boost stocks
13:45 Global food commodity prices rebound in June
13:30 EBRD providing 7 million to Grain Alliance group
02.07.2020  
23:40 More Alcohol at Wholesale Prices for British Columbia Restaurants and Bars
22:45 Burger King, Cargill and World Wildlife Fund work to mitigate effects of climate change with new grassland restoration project
01.07.2020  
11:30 European Investment Bank provides a 200 million loan to KWS SAAT
30.06.2020  
14:00 World Bank approves $350 mln loan to support reforms for economic recovery in Ukraine
13:45 Japan Recognizes US HACCP System for Meat and Poultry
26.06.2020  
21:00 Thailand. Rice export prices remain high
20:00 Food Portion of the New Saudi Higher Import Tariffs Concentrates on Dairy Products
25.06.2020  
16:45 World coffee production for 2020/21 is forecast 9.1 million bags (60 kg) higher than the previous year to a record 176.1 million
16:00 Cargill launches first chocolate manufacturing operation in Asia, with growth plans across region
12:50 Bayer announces agreements to resolve major legacy Monsanto litigation
24.06.2020  
21:05 Decline of industrial production in Ukraine slows to 12.2% in May statistics
10:51 Ukraines parliament passes EBRD-supported derivatives law
23.06.2020  
15:59 EBRD and EU update tourism roadmap for Ukraine
11:12 Statistics Service improves assessment of Ukraine's GDP fall in Q1 2020 from 1.5% to 1.3%
09:15 IFC will issue $35 mln loan to Galnaftogaz
18.06.2020  
10:50 Cargill strengthens gourmet chocolate offerings with 3.5 million-euro investment
17.06.2020  
12:35 Ukraine's Economy ministry predicts grain harvest of over 68 mln tonnes in 2020
12:15 EU wheat production in 2020/2021 is projected down by 13.8 million tons
13.06.2020  
13:30 Rice Prices Remain High on Constrained Supplies and Robust Demand
11.06.2020  
13:00 Canada. Chicken Meat Production Falls on Reduced Demand
12:01 BASF Quarterly Statement Q1 2020. Sales of 16.8 billion
09.06.2020  
21:00 Capital investment in Ukraine decreases by 35.5% in Q1 2020 statistics
20:45 Inflation in Ukraine slows to 0.1% in May, to 1.7% y-o-y
16:30 Wheat and barley malt syrup added to Cargills label-friendly sweetener options for European food manufacturers
05.06.2020  
17:20 McDonald's to open five restaurants in Ukraine in 2020, to accelerate network development in 2021
16:30 Ukraine's intl reserves 1.3% down in May, to $25.372 bln
04.06.2020  
12:50 FAO Food Price Index falls to 17-month low
12:20 FAO Director-General appeals to donors to scale up response and ease plight of farmers and fishers in Yemen
11:25 Väderstad continues to invest in the manufacture of genuine parts
02.06.2020  
12:15 Ukraine ready to discuss expansion of range of food export to Japan Economy minister
11:11 MHP SE. Unaudited Financial Results for the First Quarter ended 31 March 2020
29.05.2020  
15:00 Brazil. Sugar production is estimated at 39,5 MT in 2020/2021
27.05.2020  
20:20 Govt backs separation of ecology ministry from Energy and Environmental Protection Ministry
26.05.2020  
10:22 EBRD provides EUR3 million loan to Ukrainian cereal producer
22.05.2020  
18:25 Forecast for Ukraine's GDP fall by 4.8% in 2020 maintained Economy minister
21.05.2020  
18:14 New Zealand. Apple production expected to reach a record level of 593,000 metric tons
17:40 Ukrzaliznytsia sees UAH 7 bln of loss in Q1 2020
17:38 EBRD provides 60 million USD for Fozzy Group expansion
19.05.2020  
09:50 Ukraine's GDP 1.5% down in Q1, 2020 statistics
18.05.2020  
15:50 Global rice area is forecast to rise in 2020/2021
13.05.2020  
10:53 Record Corn, Wheat, and Rice Crops Build Stocks in 2020/21 - USDA
09:10 Ukraine GDP will contract by 4.5 per cent in 2020
12.05.2020  
10:30 Kazakhstan. Wheat production is expected to recover in MY 2020/21 to 13.5 MMT
07.05.2020  
16:50 Bunge reported first quarter 2020 results: Q1 GAAP EPS of $(1.46) vs. $0.26 in the prior year
15:40 Global food commodity prices drop further in April
05.05.2020  
20:10 AGCO. Net sales dropped by 3.4% in the first quarter
18:18 Export Forecasts Lowered for Beef & Chicken in 2020

Also available: 

Agrarian Week in digital



READ ON-LINE




NewsNews - News - News - News - News - News
BriefWeekly Reports - Free article
SubscriptionTariff - News&Reports
AdvertisingMagazine - Site
ConferencesForum AGRO-2013 - DAIRY WORLD-2008 - FERTILIZERS-2010
Statistics
For our clientsAgroNewsDaily - Ukrainian Grain&Oilseed Market - Fertilizers - Milk Monthly - Milk Weekly
About usAbout project - Contact
2002 -2020 © Agrarika, ltd.
tel.: +38 (044) 486-9171, 486-8119
fax: +38 (044) 486-8830, 494-4889
e-mail: info@agroperspectiva.com