Sunday, October 1, 2023

Bread price to increase by 200% before December: Survey

Flour was sold at N10,000 in August and rose to N22,000; a bag of sugar sold for N14,500 now costs N21,000; butter previously sold at N11,000 is now N21,000.

• October 27, 2021
Bread Bakery
A photo of a Bread used to illustrate the story

Prices of bread in Enugu may rise by 200 per cent before the end of the year, a survey by the News Agency of Nigeria (NAN) has shown.

Price has doubled from August through to October 2021, forcing bread to be out of reach of many families and lovers of bread.

A survey conducted by NAN on Wednesday in Enugu showed that the price might even jump further in November and December.

So far, the development has been blamed on incessant increases in the prices of baking materials, factory rent, and wages, which had made it difficult for the bakers to make a profit or break even.

The survey revealed that the persistent increase in the cost of baking materials had forced many bakers out of business and left others seeking government intervention to survive.

In May, the Association of Master Bakers and Caterers of Nigeria (AMBCN) directed its members nationwide to increase prices of bread and other items by 30 per cent due to the prevailing economic situation of the country.

Some of the producers who spoke to NAN said they jerked up the price due to the high cost of production and prices of such materials as sugar, butter, yeast, and flour.

This, they said, reduced the quantity and quality of bread produced in the state.

A baker, Peter Ohajiuba, said he was tired of the bread business due to the uncontrollable costs associated with it.

“It is surprising and unbelievable how the cost of baking materials keep increasing on daily basis. We no longer produce the quantity we used to produce, and people are complaining about the prices at which we sell it,” he said.

According to him, flour was sold at N10,000 in August and rose to N22,000; a bag of sugar sold for N14,500 now costs N21,000; butter previously sold at N11,000 is now N21,000; and nylon, which sold for N8, is now N13.50k.

“With all these running costs, how can one make a gain, the major aim of venturing into any business?” Mr Ohajiuba stated.

A retailer, Chika Aliejim, said the bread she bought for N550 a few months ago had gone up to N800.

“The funny thing is that the quantity of bread these days is laughable as an individual can finish N300 loaf of bread and will still be hungry,” lamented Ms Aliejim. “I usually make a gain of N80 on one bread, but now I make only N20, and we were told that raw materials for making the bread had gone up.”


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