Bakers to increase Bread, Biscuits price by 15 per cent
Irked by the geometric rise in the cost of production, the Association of Master Bakers and Caterers of Nigeria (AMBCON) has concluded plans to increase the market prices of bread, biscuits and other related commodities by 15 per cent.
The increase which will be effected as from Monday, October 17 is sequel to a resolution reached at an enlarged joint zonal meeting of the South-South and South-East geo political zones of the association held in Asaba, the Delta State capital, yesterday.
The association hinged its resolution on the state of the economy in Nigeria, which it claimed was dangerously recessing into a breakdown.
In a statement jointly signed by the chairman of the Joint Zonal
Council, Sir Hilary Eze, his Secretary, Elder Akpan Jude and 12 others from the geo political zones, including Enugu, Anambra, Edo, Ebonyi, Cross River, Delta and Akwa Ibom, the bakers blamed the cost of baking ingredients on the increment in prices.
According to Eze, Akpan and his colleagues, the increment is due to the sudden increase in the prices of sugar from N7,000 to N19,000; butter from N4,200 to N12,000; yeast from N10,500 to N17,000; and flour from N9,700 to N12,000.