The Ashanti regional branch of Bread Bakers Association have increased the prices of bread by 20%. The change in price took effect on Sunday, August 1, 2021.
A loaf of bread priced at GH¢5 is now selling at GH¢6 and the GH¢10 bread is being sold at GH¢12.
The bakers told the press in Kumasi over the weekend that they were considerate in coming out with the new price.
They explained that the 20% price increment was due to the rising cost of ingredients ( including flour, sugar, nut milk, margarine) used in the production of the commodity. But the high cost of fuel is also a factor.
The price of a bag of flour, for instance has gone up from GH¢160 to GH¢220.
Margarine has also shot up from GH¢98 to GH¢142, while the price of sugar increased from GH¢150 to GH¢210.
The bakers lamented that these increases have negatively affected their profit margins and caused them to lay-off workers.
Leadership of the Ashanti Regional Bakers Association said:
‘Everyone will bear with us that the price of the materials we use in baking bread had gone up. We all know that the price of flour has increased, and it speaks volumes. Besides the flour, the price of margarine has increased, and we can’t bear it any longer. We have workers and drivers we pay as well, and the price of fuel has also gone up’.
‘So we are just entreating the general public to bear with us. Currently, the price of bread is around GH¢5 and for us to remain in business, the only way is for us to increase our prices. If you are to be critical of the percentage increase, we should have to increase it to GH¢9, but we have decided to increase it slightly from GH¢5 to GH¢6’.
SOURCE: Kasatintin.com
