Nigeria: Bakers to increase price of bread by 20%

Published 2022년 7월 26일

Tridge summary

The article reports a forthcoming increase in bread prices in Nigeria, attributed to the ongoing Russia-Ukraine conflict's impact on raw material prices. The Premium Breadmakers Association of Nigeria (PBAN) announced a strike in response to the surge in production costs, but not all members are participating. The association's chairman in Cross River State, Thomas Odey, explained that the price hike is necessary due to increased costs in diesel, condiments, and wheat flour. The article also highlights that the Chairman of the Association of Master Bakers and Caterers of Nigeria in Kogi State, Gabriel Bamidele-Adeniyi, has confirmed the price increase, with specifics on the new pricing structure for various bread ranges.

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Original content

The price of bread is expected to rise by 20 with the bakers divided on how to address the increase in price of raw materials occasioned by the ongoing war between Russia and Ukraine. The Premium Breadmakers Association of Nigeria (PBAN) had last week announced its members would embark on a four-day warning strike in order to force the Federal Government to put in place business-friendly policies. However, the bakers in Cross River State pulled out of the strike and declared their intention to increase price of their bread. The PBAN chairman in the state, Thomas Odey, confirmed the development in a chat with journalists. Read Also: Bakers Shut Bread Production Today Over Skyrocketing Costs It had been reported previously that the invasion of Ukraine by Russia disrupted global trade, and also impacted exportation of wheat. He said: “The planned increment is not even enough, this is because the price of every means of production has increased from condiments to diesel and all other ...

Source: Economicconfidential