Bread price may rise by 200% before December – Survey

Prices of bread in some state may rise by 200 per cent before the end of the year, a survey has shown.

Price has doubled since August through to October 2021, forcing the product out of reach of many families and lovers of bread.

According to a reported survey conducted in Enugu, showed that the price may likely even jump further in November and December, if not controlled.

The development has so far 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 persistent increases in the cost of baking materials, in particular, has forced many bakers out of the business, and left others seeking government’s intervention to survive, the survey revealed.

Recall that 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 newsmen said they jerked up the price due to high cost of production, as well as prices of such materials as sugar, butter, yeast and flour.

This, they said, has reduced the quantity and quality of bread produced in the state, eliminating bread as a major food for the common man and making it food for the rich.

A baker, Uchenna Okafor said that as a matter of urgency, the government should look into the cost of these materials, as well as provide loans to bakers to produce more bread and employ more workers.

“A price control mechanism should be put in place to monitor the cost of things in the market, to enable us meet our target and demands,” he suggested, while reiterating that if they bought materials at a lower rate, they would sell to customers at a cheaper rate.

A retailer, Mrs. Chika Aliejim said the sizes of bread she bought for N550 a few months ago had gone up to N800, the one of N350 now sold at N600 and the one of N200 sold at N500.

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