The prices of bread, biscuits and other confectioneries may increase soon as based on a directive by the Association of Master Bakers and Caterers of Nigeria (AMBCN).
The Association has directed its members nationwide to hike the prices of the items by 30 percent due to devastating economic situation of the country.
According to the association, the adjustment in price stems from the sudden increase in the costs of production as well as prices of sugar, butter, yeast and flour.
The directive was part of the resolution reached at the end of the National Executive Council (NEC) meeting of the association in Abuja on Wednesday
National President of the association, Mansur Umar, who read the resolutions, explained: “After considering the impact of the skyrocketed prices of baking ingredients/materials, for the survival of our noble business, which is presently bleeding, the association came to the conclusion to adjust our prices by 30 percent.”
It called on the Federal Government to intervene and reverse the high tariff regime imposed by the National Agency for Food and Drugs Administration and Control (NAFDAC) and streamline regulation by allowing only NAFDAC to regulate bakers.
While directing members across the country to increase prices of their products to at least 30 percent to cushion effects of high cost of production, AMBCN called on the Federal Government to take immediate steps towards reducing the high price of flour as it is killing the business.
“The incessant increase of prices of flour and other baking materials is responsible for the decision.
“In the last six months, one truck of flour that we used to buy at less than N6m is now N9m,” the association said in a statement.
KaftanPost had surveyed the prices of the afformentioned categories of confectioneries and observed obvious changes in size, weight and quantity. This is with the retailers lamenting increased cost prices.