Bread bakers in the Ashanti region have increased the prices of the commodity by 20%, effective from August 1, 2021.
The bakers said the incitement has been necessitated with the soaring prices of ingredients such as flour, sugar, nut-milk, margarine among others.
In a press conference to announce the increment in Kumasi on Sunday August 1, 2021, the Ashanti Regional Secretary for the Bread Bakers Association (ABBA) Mr Isaac Amoah announced that, a loaf of bread priced at ¢5 is set to be sold at ¢6. and the GHc 10 bread will now be sold at GHc 12.
Some traders say fuel prices and freight charges at the port account for this increase.
“The wheat and flour are imported. The retailers take into consideration freight charges and fuel prices. It has slowed the market. Some of us want to leave this business. Our products are still at our shops, people do not purchase anymore,” a trader lamented.
Another said, “The freight charges are expensive. Some merchants say it has increased from 5000 to 15,000 cedis”.
There was an earlier plan to increase prices of bread early this year but It was shelved due to calls for the prices to be maintained.
Despite calls to increase prices, other bakery brands have refused to give in. Some Importers of raw materials for bread production have advised bakers to stick to a uniform price.
“The bakers association decided to have a meeting to agree on one price. Some bakers secretly started selling to the customers of other brands. This is pure madness,” one said.
Another added that, “A bag of flour was sold at 190 cedis last week. It has been increased to 194 cedis this week. I suggest bakers should reduce the quantity of the loaves.