In August, bread could increase up to $400 a kilo in Argentina

Published 2022년 7월 24일

Tridge summary

The article highlights the significant increase in the cost of bread in Argentina, with prices expected to rise by approximately 10% to around $400 per kilo due to rising dough prices and withholding taxes on flour and soybean oil. This situation is attributed to the fluctuating dollar exchange rate and alleged speculation. Bakeries are experiencing difficulties in obtaining subsidized flour, which is necessary to maintain prices. The government's efforts to subsidize wheat flour through the Wheat Stabilizer Fund have not completely resolved the issue, and bakeries may pass on the increased costs to consumers. The situation underscores the broader economic challenges faced by small businesses and the national industry in Argentina.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the midst of the whirlwind of remarks due to the uncertainty in the markets and the rise in the dollar in recent days, the kilo of bread is set to increase by around 10% and could reach up to $400 in the coming days, taking into account account the increase registered by the flour and the rest of the necessary inputs to be elaborated. Yesterday, the president of the Avellaneda Bakers Center, Gastón Mora, warned that there are groups of speculators who want to take a kilo of bread to $400 amid the strong rise in the dollar and that - in just one day - it jumped more than $20 on the illegal market. He explained that suppliers of flour, margarine and other basic supplies are not making deliveries while waiting to define new prices. "We see with great concern what is happening as a result of the economic issue, the dollar with a very important run, speculation at the foot of the canyon and us in the middle trying to survive," he said. In this context, according to the leader "there ...

Source: Clarin