Bread Prices Soar

The price of a loaf of bread has risen last week due to price rises in its production and wheat. Few days ago, the price of a loaf of bread increased to FCFA 150 from FCFA 125. Consumers are adding FCFA 25 or FCFA 50 to the normal cost depending on the quantity or size of bread. Bakers in Douala attributed the price increase to soaring imported flour cost, rise in transport fuel costs as well as rise in raw materials on the international market, which has affected the cost of gas for ovens which have also risen. Stakeholders of the flour sector blame the domestic price increases on the Ukraine-Russia war. Ukraine which is a flour basket for the world, with major production of wheat focused on the eastern part of the country where fighting has been intense and infrastructure is being destroyed. Wheat would have to be sowed around March for late summer crops, but the war makes any kind of normal agricultural or other commercial activity almost impossible. This has contributed to the local price hikes since a good quantity of the flour was imported from Ukraine and Russia. Russia is also a major wheat producer, but sanctions will mean it will find few buyers. The stakeholders have held several meetings with the Ministry of Trade and recently decided that the price of flour be increased. The price of a...