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Business News of Monday, 31 July 2023

Source: www.punchng.com

Bakers hike bread prices

Bread (File image) Bread (File image)

Rivers State chapter of the Association of Master Bakers and Caterers in Nigeria has urged consumers in the state to prepare for a new price regime from Monday (Today). This followed the rise in baking materials.

The State Chairman of the association, Dr. Chidi Orlu, stated this while speaking with journalists in Port Harcourt.

Orlu explained that the country’s current economic realities were impacting negatively bakers’ production costs but noted that the increment would be minimal.

He stated, “From Monday the prices of bread in Rivers State will increase slightly. We plead with consumers and the general public to understand with us.”

While noting that raw materials used in producing bread had gone up, he said ““The issue of the petroleum product, fuel and diesel have not helped matters.