The price of bread could increase very soon according to Chief Simeon Abanulor, the National Chairman, Association of Master Bakers and Caterers of Nigeria who says this is necessary “to enable bakers to remain in business.”
Abanulor said this at a news conference in Umuahia, Abia state yesterday.
He disclosed that the cost of raw material had gone up and that bakers were struggling to stay in the black due to this.
“We are helpless because the price of raw materials ranging from flour to sugar, wheat and butter, has gone up.
“It is therefore imperative that for us to remain in business, we will have to increase the price of bread.” he said.
Abanulor said they had tried to discuss with flour producers to reduce their inflated prices but were rebuffed.
“However, they told us that there is nothing they can do because the Federal Government is not giving them foreign exchange and that they source it by themselves at the parallel market.
“They maintained that they cannot sell below their cost price.” Abanulor explained