Philippines. Flour millers pressed to reduce prices

31.05.2010 12:21 "Agro Perspectiva" (Kyiv) — THE TRADE department has asked flour millers to reduce prices, citing low world prices of wheat and two extensions since last year of the duty- free importation privilege for this item. Trade and Industry Secretary Jesli A. Lapus said in a statement that world prices of wheat ranged from $259-$277 from January to May — «nearly the same as those in 2007 when prices of wheat from January to September… ranged from a low of $217-$334.» Mr. Lapus added that «despite the zero tariffs on wheat from 2009 to 2010, there is a big difference in the 2007 and 2010 ex-mill and monitored prices of flour.» Ex-mill prices in 2007 ranged from P610-P670, compared to an average of P790 currently. President Gloria Macapagal- Arroyo approved last February a second six-month extension of the duty-free importation of wheat, from which flour is derived, after the first such extension ended last Jan. 12. The Philippine Flour Millers Association could not be immediately reached for comment.

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