Bread prices to go up by 30 percent amid rising production costs

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The Association of Master Bakers and Caterers of Nigeria (AMBCN), has said prices of bread and biscuits will increase by 30 percent to cushion the impact of rising cost of production.

The association made the disclosure in a statement at the end of its national executive council (NEC) meeting in Abuja.

Mansur Umar, national president of the AMBCN, who read the statement said increase in prices of flour and other baking materials necessitated the development. The association noted that a truck of flour which was previously sold at N6 million is now N9 million.

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

According to the selected food price watch for April 2021 report released by the National Bureau of Statistics (NBS), the price of a loaf of sliced bread grew by 5.18% year-on-year while unsliced bread grew by 6.14%.

In 2020, AMBCN had hinted at a 50 percent increase in the price of bread citing the surging cost of raw materials and COVID-19 impact.

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