Price of bread to go up by GHC1

Price of locally manufactured bread will from next week Monday shoot up by one Ghana cedis (GHC1.00), executives of Ashanti Regional Flour Users Association have announced.

The soon to be effected increment in prices was sparked by the recent hikes in the market prices of flour and other products used in the baking of bread.

The new price per the decision of executives will not affect only bread but all pastries and consumable products made with flour.

Speaking exclusively with the President of the Association Madam Comfort Akotua, she indicated that the market price tagged on flour by flour milling companies has imposed an untold hardship on their business as their cost of bread production at the moment has gone up.

She told this journalist that a bag of flour which was sold to them by flour millers at the cost of GH 120 has now increased to GH 160, adding that within the space of one month prices of flour has witnessed increment for more than five times.

This she underlined has affected most players since majority are currently running at a loss, hence their decision to increases prices of bread and all other pastries.

Sharing his ordeal, the Director for Shallom Bakery Mr. Agyekum Michael disclosed that he sometimes run at a loss and has to cut down production in other to survive.

Apart from flour, prices of sugar, liquified petroleum gas, firewood, milk, butter plus other essentials needed for the baking of bread have gone up, cautioning that if government does not intervene, several players in the baking industry will quit the business.

Chief Executive Officer for Okyeso Nyame Bakery Madam Mavis Kwagyiri-Stiles also called on government to assist by subsidizing the prices of bakery products.