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Bakeries Increase the price of Bread to 20 percent.

Bakeries Increase the price of Bread to 20 percent.

The price of bread is expected to rise by 20 percent with the bakers divided on how to address the increase in the price of raw materials brought on by the ongoing war between Russia and Ukraine.

The Premium Bread Makers Association of Nigeria -PBAN had announced that its members would commence a four-day warning strike to force the Federal Government to put in place business-friendly policies.

However, the bakers in Cross River State declined the strike action and declared their intention to increase the price of their bread. This development was confirmed by the chairman of the state, Thomas Odey, in a chat with news reporters.

It was previously reported that the invasion of Ukraine by Russia disrupted global trade, and also impacted the exportation of wheat. 

“In my contacts with big flour mills in the country, they will tell you the Russia/Ukraine crisis, exchange rate, and the issue of sourcing foreign currency are posing major challenges and increasing the price of wheat flour. However, in my training with Flour Mill, I discovered that they mixed cassava flour with wheat to get what they used, but the kind of cassava they used was a species we need to develop in large quantities.”

Also, the Chairman of the Association of Master Bakers and Caterers of Nigeria in Kogi State, Gabriel Bamidele-Adeniyi, confirmed the increase in the bread price.

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He reported that: “Unfortunately, as we resume production on July 25, prices of bread will increase by 20 percent.” 

“A bread of N200 will cost between N240 and N250, that of N500 will cost N600, that of N600; N750, that of N700 will cost N880, and that of N800; between N980 and N1,000, respectively.” He concluded.

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