Bakers to hike bread prices on Monday

Local bakers will increase bread prices on Monday, as originally planned, despite a government appeal to temper price increases. Luisito Chavez, president of the Philippine Federation of Bakers Association (PFBA), said a 600-gram loaf will cost P2 more, while a peso will be added to the price of a 10-piece pack of pandesal. In an interview on dzBB radio on Sunday, Chavez traced the price increase to rising sugar prices. As of the end of January, sugar retailed for P54 per kilogram in Metro Manila — a P9 increase from P45 per kilo a month ago. In January 2009, sugar cost P36 per kilo. Earlier, the DTI met with bakers and millers to discuss ways to maintain bread prices amid rising flour and sugar prices. — Sophia Regina Dedace/NPA, GMANews.TV