Nigerian master bakers will shortly increase the prices of flour products, such as bread and biscuits, by about 30 percent.
Rising costs of flour products account for the forced increases, a statement from the bakers said on Monday 24 May.
The increase is a major decision reached at the NEC meeting of the Association of Master Bakers and Caterers of Nigeria (AMBCN) held in Abuja.
AMBCN specifically directed members nationwide to aim at 30% price hike to manage rising production and raw materials procurement costs.
In particular, it said the jack-up will help members adjust to sudden increases in production, sugar, butter, yeast and flour.
AMBCN President, Mansur Umar, said members’ businesses are “bleeding” from the impact of skyrocketing prices of production and raw materials.
He gave an example with the current cost of flour, a major baking item.
“In the last six months, one truck of flour that we used to buy at less than N6.0m is now N9.0m,” the association said in a statement.
It also blamed high tariff regime imposed by NAFDAC for the problem of pricing and purchase of baking materials.
AMBCN asked the Federal Government to intervene by reversing high tariff regime and streamlining regulation to allow only NAFDAC regulate bakers.
Incessant increases in price of flour have forced some of their members to shut their businesses, the Association said.
In particular, AMBCN asked Government to take immediate steps to reduce high price of flour as this is killing business.
“The incessant increase of prices of flour and other baking materials is responsible for the decision.
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Nigerian master bakers direct members to increase by about 30 percent the prices of bread and biscuits, .Tweet