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Bakers Plan Fresh Increase In Price, Cite Cost Of Materials

Bakers Plan Fresh Increase In Price, Cite Cost Of Materials

Bakers, under the aegis of the Premium Bread Makers Association of Nigeria, have announced another impending increase in price of bread due to the cost of baking materials.

The president of the association, Emmanuel Onuorah, informed Punch of the development.

The proposed hike is coming barely two weeks after a recent strike action by PBAN, as well as the Association of Master Bakers and Caterers of Nigeria.

Onourah explained that many PBAN members had been forced to shut down business operations this year due to the skyrocketing cost of doing business.

He said, “The price of bread is going up again. The millers just increased prices by N2000. Sugar refiners increased by N2000. We had a N10,000 increase between last week and this week. We are increasing prices again.

“Preservatives increased by N2000, and butter increased by N2000. So, we have to respond. For us as an industry, our own is garbage in, garbage out. If the price of wheat comes down today, and the price of fuel comes down, certainly we will look at the price of our products and act accordingly.”

The president of the association went on to urge the Federal Government to open up a forex window for industry players, particularly the flour millers.

This, he said, would significantly address the indiscriminate increase in the prices of flour in the market.

When we went on withdrawal of services, flour was N28,500. Today it is N30,500,” he added.

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