Nigerians groan as prices of bread soar

Published 2021년 7월 4일

Tridge summary

Bread and other baked good prices have increased in Nigeria for the second time in a year, due to rising costs of baking materials such as sugar, butter, yeast, and flour. The Association of Master Bakers and Caterers of Nigeria (AMBCN) had announced a 30% price increase in May due to economic challenges. The price hike is expected to exacerbate the existing economic hardships in the country. The failure of government initiatives, including the Cassava Bread Fund, to scale up the production of High-Quality Cassava Flour (HQCF) and the continued dependence on wheat importation have been highlighted as key factors. The training of master bakers to include 10% cassava flour in bread and other baked goods, aimed at creating jobs, wealth, and reducing foreign exchange expenditure on wheat, has seen partial success but has not fully met the demand from bakers.

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Original content

Cassava flour-based breadTrue to their threat, bread producers have jerked up the prices of bread and other confectionaries across the country. This is coming for the second time in one year. The first price review was done last year in the wake of the COVID-19 pandemic, which disrupted economic activities. x Though the development has been attributed to incessant increases in prices of baking materials, which has made it difficult for the bakers to break even, there are fears that the new development will further aggravate the hardship in the country, especially for lovers of bread. According to reports, due to the skyrocketing price of foodstuffs, especially rice, yam, beans, garri and other staple foods, the majority of Nigerians have found solace in bread, which is not only a cheaper ...

Source: Guardian