The Ministry of Commerce announced the update of the price of flour and established that each 25kg bag will have a reference value of $2,142.
Given the inflationary increases, the Commerce secretary updated the reference price of one of the basic foodstuffs. under the Argentine Wheat Stabilizer Fund (FETA) set the new value of 000 flour.
Through resolution 1029/2023, the reference price of the stock market 25kg of 000 common flour at the end of the mill was set at $2,142.
Despite the increase, the prices established by FETA are below the inflationsince, during the first semester of 2023, a cumulative increase of 34.6%while the accumulated CPI is of 42.2%.
In addition, the increase for the fund from June 2022 to June 2023 was 78.5%, well below the 104.6% year-on-year increase in the price of French bread in Greater Buenos Aires and of the 114.2% inflation in the last 12 months. In monthly terms, the rise of the reference bread in May of the flute-type bread was 13.1% while the bag of flour of the trust varied 7.58% with respect to the last value.
To establish the updates, the variations in the FAS price of wheat by 40%, that of wholesale inflation by a 30% and that of salaries in the other 30%.
It should be remembered that the implementation of the FETA seeks guarantee a reference value for wheat in the internal market that allows maintain a stability in the share of the bag of flour as a component of the cost of the products derived from it.
Source: Ambito
