The Department of Trade and Industry (DTI) has been closely monitoring the declining trend in world market price of wheat since June 2011 based on the Minneapolis Grain Exchange (MGEX) data.

The DTI now takes note that despite this declining trend in world market price of wheat, the monitored retail prices of local brands of flour, instant noodles, and bread do not reflect such decline, which could have been part of their raw material costs.

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