Gardenia Philippines Inc. is readying expansion in anticipation of higher demand as population rises and despite rising raw materials cost.
“We have to expand in the near future because the population is growing,” said Simplicio Umali Jr., president of Gardenia Philippines.
According to Umali, consumption of bread will start increasing as early as 2023.
But he noted the cost of equipment to run a new factory has increased due to foreign exchange.
Umali expressed hope competition among new and existing players in the market would induce price reduction of bread.
He said GBPI at present has enough capacity and can retool its plant to increase that capacity and address market demand.
Gardenia Philippines operates two plants, one in Laguna and another one in Cebu.
