Philippines Bread Prices Could Rise

Gardenia Bakeries Philippines Inc. is considering raising bread prices to cover the recent rise in sugar costs.

A number of bread makers in the country are also considering a price hike to compensate for the growing costs of sugar, milk and fuel.

Bulk sugar currently costs around P40 per kilogram versus just P30/kg in July.

Prices proposed for a pack of 10 pieces of pan de sal and a 600- gram loaf may rise by P1 to P29.75 and P54.50, respectively.