Bakers Threaten Price Increase As Ingredients Become Costlier

Bakers in Nigeria have threatened to increase the retail price of bread in line with rising cost of ingredients used in their production.

Premium Breadmakers Association of Nigeria and the Association of Master Bakers and Caterers of Nigeria, in a conference held today in Lagos, lamented the increase in baking ingredients.

President of PBAN, Tosan Jemide, said the prices of sugar, flour and other baking ingredients had gotten costlier over the past six months, but there had been no corresponding change in the price of bread.

Jemide said, “We have been busy helping them remain profitable while our businesses suffer, because we are more in tune with the purchasing power of the consumer and are deeply concerned about food security.

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“PBAN and AMBCN shall no longer take seat and watch such blatant increases in prices going forward. We shall react with equal price increases or stiff resistance.”

He called on the government to assist bakers in procuring ingredients at a cheaper rate, or stem the tide of incessant price increases.

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