Bread Prices May Increase By 60 Bakers Warn The Nation Nigeria The price of a bushel of wheat hit $12.94 last march on the chicago mercantile exchange, up from a low of $7.42 in january — a nearly 75 per cent increase. it has since dropped to about $8.60. May 10, 2023, 12:17 pm. a staggering 16% increase. lupo is hardly the only baker lifting prices. the cost of baked goods has jumped 12.9% over the last year.
Prices Of Bread Biscuits Others To Increase By 30 Percent Bakers The Nation A piece of bread sold at kubwa, abuja, sold for n700 in may 2023 has had its price increased to n1,100 in may 2024, representing 58 percent increase. a piece of jumbo bread sold for n1,500 at lagos stalls in 2023 are now sold for n2,500, indicating a 67% jump. some loaves have risen by 80% to n100%, but not in the same proportion as inputs. The conflict injected “a whole lot of volatility” into the marketplace, and pushed up wheat prices to as high as $100 a tonne. he said australian farmers were getting paid a little bit more for their wheat, with the amount farmers make out of a loaf of bread increasing to around 20 cents per 500g loaf of bread, from around 12 15 cents. In the next few weeks, the price of the ordinary tasty bread and “pandesal” may have to go up as well. the country’s biggest bakers said they would submit this week or the next a request for a p4 increase in the price of bread to the department of trade and industry (dti) to help them recover the higher costs of ingredients. If flour prices continue to spike, bakers may have no other choice but to likewise increase bread prices. advertisement. according to mav gonzales' saturday 24 oras weekend report, flour prices rose to p1,030 per sack from last december's p800. class a flour was even more expensive at p1,100 per sack. even sugar prices rose by p50 per sack.
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