Pafmil assures enough flour supply–But wheat prices to stabilize only in 2009

MANILA, Philippines —

According to a news report from newsinfo.inquirer.net, “A flour industry official assured the public on Wednesday of enough supply to meet local needs, but warned that prices may continue to rise within 2008 due to global factors.”

“Ric Pinca, executive director of the Philippine Association of Flour Millers Inc. (Pafmil), told reporters that the local flour stockpile, as of April 1, was estimated at 10.6 million 25-kilogram bags “which is good for 2.7 months.” This inventory level, he said, was much higher compared to the same period in 2007, when flour stockpile was around 8.8 million bags,” said the story. “We have more flour now than last year because there is less demand since bread now is more expensive,” he said. “Also, bread consists only about a third of our daily intake.” Pinca, however, said wheat prices would stabilize next year with a forecast slowdown in wheat demand and increased production.”

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