Basic commodities’ prices reflect surge in oil prices – DTI
THE impact of the persistent increase in the oil products is reflected in higher prices of basic goods and prime commodities in the market.
Department of Trade and Industry (DTI) Pangasinan provincial director Natalia Dalaten cited the price of flour alone that has since increased.
She said the price of 25 kgs. of wheat flour now jumped from P30 to P50.
As this develops, the price of bread in the country is also expected to increase.
Dalaten explained that if the conflict between Russia and Ukraine intensifies, the impact of price hikes on various basic products would probably prevail.
She noted that 23–percent of the global market supply of wheat flour comes from Russia and Ukraine.
Meanwhile, prices of other prime commodities have already increased: Powdered milk from P44 to P91; canned sardines, from P13.25 to P18.40; noodles, from P6.75 to P8.25; salt, from P6.25 to P21.50; cooking oil (price monitoring) P30 per bottle.
Based on their monitoring, the said products have increased from one peso up to two pesos, depending on the brand due to increased costs to transport raw materials, she said. (Jerick Pasiliao)
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