Bakers Hint On Increase In Prices Of Bread

By Ayodele Oni

As a prelude to increase in prices of bread, Members of the Association of Master Bakers and Caterers of Nigeria have threatened to withdraw their services nationwide.

According to the association, the planned increase in prices of the commodity was necessitated by incessant hike in the prices of flour and other baking materials.

The Bakers has issued a two-week ultimatum, starting from September 23, for the Federal Government to address the situation, which they said was killing the industry.

The association, in its report stated that two months ago, the price of bread soared by 50 to 70 percent, but said the latest development was no longer bearable.

It gave details of why price of bread will continue to increase among which include “Ninety percent of inputs involved in production of bread are imported.

“The discretionary foreign exchange rate for flour that was present in the past is no longer available as foreign exchange available in the country has dropped drastically.

“Stakeholders in the industry said if the production of High-Quality Cassava Flour (HQCF) that was supposed to be achieved through the Federal Government’s Cassava Bread Fund initiative scaled through, it would have reduced bakers’ reliance on flour and wheat for bread production.”

The Bakers pointed out that the initiative like other previous Government interventions, failed due to lack of will-power and policy summersault.

“This year, a loaf that sold for N300 rose to N400 and may be sold for N600.”