Premium bread maker Gardenia Bakeries (Philippines) Inc. will reduce the price of its white bread loaf by another P0.50 starting December 15, 2015, in time for the holiday season.
The bread company announced the price rollback after it received commitment from local flour suppliers that they would reduce the price of high-protein flour.
This is the second time that Gardenia will cut bread prices after reducing the price of its classic white bread loaf by P0.50 and the 12-piece pack of pandesal by6 another P0.25.
The price rollback is in response to the Trade Department’s call to lower the price of breads after global flour prices softened in previous months.
“We have successfully negotiated with the flour millers to reduce their flour prices as world prices of wheat have declined likewise. We are passing on the savings to consumers in the form of a price reduction,” said Gardenia president Simplicio Umali.