Thursday, Oct 28th 2021 9:04 AM

Market Digest Nigeria


Members to increase prices of bread -AMBCN

Bread price hike looms as bakers association approves 30% increase.


The was disclosed by the National President of the association, Mansur Umar, in a statement on Wednesday reported by The Nation.

What the bakers association is saying about increase in bread prices:

Umar, who read the resolutions explained: “After considering the impact of the skyrocketed prices of baking ingredients/materials, for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 30 percent.

“The incessant increase of prices of flour and other baking materials is responsible for the decision.

“In the last six months, one truck of flour that we used to buy at less than N6m is now N9m.

The association also urged the Federal Government to reduce regulatory roadblocks in the sector calling for NAFDAC to be the sole regulator of bakeries.

The Federal Competition and Consumer Protection Commission has not made a comment on the price hike.

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