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Bread Price Increase Looms As Wheat Cost Rises 33% - Food - Nairaland

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Bread Price Increase Looms As Wheat Cost Rises 33% by Islie: 7:26am On Jul 31
The price of Nigerian grown wheat has risen by 33 per cent due to the low production volumes of the product.

The rise in the cost of wheat may lead to increase in the prices of bread and other pastries. Wheat is the major raw material for flour used in baking.

It was gathered from the Wheat Growers Association of Nigeria that the projected price of the product was N180,000 per metric tonne at the beginning of the planting season.

However, due to the COVID-19 containment measures that affected the harvest process and led to the loss of the product by farmers, the price had increased to N240,000 per metric tonne.

The President of the association, Salim Muhammad, who spoke with The PUNCH explained that the spread of the coronavirus started during the harvest period of wheat planted by farmers.

“We set a price of N180,000 per metric tonne but the market demand raised the price to N240,000 per metric tonne, which the off-takers are not willing to accept,” Muhammad explained.

According to him, the inability of farmers to harvest products on time led to losses.

He added that farmers were unable to meet market demand for the product.

Muhammad said, “The virus started spreading during our harvest period and it could not allow farmers to have access to their farms due to restriction in movement and lockdown.

“It did not allow the farmers to get the labour they needed because of the social gathering restriction put in place.”

He explained that birds, insects and the weather had destroyed some of the ripe wheat that couldn’t be harvested on time.

“The farmers who were able to harvest successfully did not have access to market because of the lockdown,” Muhammad said.

He said the association had made projections for 34,000 metric tonnes of wheat based on 11,185 farmers approved by the CBN but unfortunately due to the restricted movement, the group could not ascertain the volume of harvested wheat.

Muhammad said from all indications, the hike in price would trickle down to millers, bakers and consumers.

Wheat is important to the diet of many Nigerians as it is a major component of wheat flour, pasta, bread, dough, noodles and spaghetti, among others.

Meanwhile, the Association of Master Bakers and Caterers in Lagos State are also complaining of a hike in the rates of baking materials, including flour, due to the COVID-19 pandemic.

According to the group, a bag of flour that cost N9,000 before COVID-19 crisis, now goes for N13,000.

The association explained that the instability of foreign exchange, high cost of diesel and other baking materials, were reasons given by flour millers for the hike in the prices of baking materials.

The hike in price of wheat-based staples also pushed up food inflation rate as seen in the inflation figures for June 2020.

In June, the year-on-year food inflation increased by 0.14 per to 15.18 per cent while the monthly component rose by 0.06 per cent to 1.48 per cent as the highest price increases were recorded for bread and cereals, potatoes, yams and other tubers.

Data obtained from the National Bureau of Statistics showed that durum wheat flour and seeds were some of the major agricultural products imported in the first quarter of the year.

The data showed that durum wheat valued at N127.85bn was imported from the United States, Latvia, Canada, Argentina, Russia and Lithuania.

This is an indication that the value of wheat imports grew by 22 per cent between January and March 2020 compared with Q1 2019 imports from Argentina, Canada, Russia, United Arab Emirates and US valued at N105.113bn.

Forecast made by the Food and Agricultural Organisation indicated that wheat imports by Nigeria this year could reach 4.8 million tonnes but could be affected by the sharp depreciation in naira and falling foreign exchange reserves.

https://punchng.com/bread-price-increase-looms-as-wheat-cost-rises-33/

1 Like

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Macphenson: 7:57am On Jul 31
So poor man cannot eat ordinary Agege bread in peace again.

24 Likes

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by JidennaJason: 8:14am On Jul 31
The ineptitude of and gross incompetence of General buhari is really causing hardship in this country...

This was the same dullard that was preaching diversification and hammering on boosting the agricultural sector when he was installed by some group of Efulefu's.

The President of the Wheat Growers Association, Salim Muhammad is just giving us silly excuses.

You all should start choosing your Chinese name now, because the dullard has succeeded.

68 Likes 5 Shares

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Nbotee: 8:44am On Jul 31
We go get sense buy force..... Welcome to Next Level

8 Likes

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by mariahAngel: 8:54am On Jul 31
This one will inevitably affect everybody.

Nigeria is fast heading for the iceberg sad

7 Likes

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Brute2162: 11:29am On Jul 31
Even for those of us that deal in Dollar and purchase things online. We're finding it hard to purchase things online because the charges are too much. This is very sad

This country is Gone!

21 Likes

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by crossfm: 11:29am On Jul 31
Sai baba.The hardship is alarming,the government is even making matters wost with its economic policies.Anyways sai baba in Zombies voice.

We all die here,we are in this together.Until we learn our lesson.

3 Likes

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by DuBLINGreenb(m): 11:29am On Jul 31
Na only court and pages of Newspapers you for see words like "looms"
Re: Bread Price Increase Looms As Wheat Cost Rises 33% by TOPCRUISE(m): 11:29am On Jul 31
If it increase by 100 plus percent Nigerians will accept whatever the price. If I call all Nigerians out for a revolution, they will say I am on my own. sad

23 Likes 3 Shares

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Shutupthere: 11:30am On Jul 31
Let's make bread or shutupthere
High quality Biz fullz available
Drop your telegram handle
Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Awe4luv(m): 11:30am On Jul 31
oh my God....this country is in a state of hullabaloo.....

I dont even understand what am saying again

1 Like

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Dpharisee: 11:30am On Jul 31
He ran out of this thread in shock that bread price may rise.
What happened to all that his acclaimed economic diversification to agriculture? undecided

6 Likes 1 Share

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by bigfish3k: 11:30am On Jul 31
We don really enter one chance for this government

6 Likes

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Pavore9: 11:30am On Jul 31
Living is certainly a bumpy ride.
Re: Bread Price Increase Looms As Wheat Cost Rises 33% by shellsea(m): 11:31am On Jul 31
So the food for common man would soon be expensive....

Nigeria the audio Giant of Africa
Re: Bread Price Increase Looms As Wheat Cost Rises 33% by hisgrace090: 11:31am On Jul 31
If it increases again it is going to be too tough for Nigerians considering it pressent price.

1 Like

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Simplyleo: 11:31am On Jul 31
Clever farmers can just embark on wheat farming. A good cashout awaits them in the near future.

Pls this message is for farmers, not ipob lunatics screaming Buhari and Tinubu all the time.
Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Maxymilliano(m): 11:31am On Jul 31
Buhari kilode ?

15 Likes 1 Share

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by zombieTRACKER: 11:31am On Jul 31
Buhari destiny is to wreck Nigeria

While yoruba muslims chant sai barber

6 Likes 1 Share

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by PureGoldh(m): 11:32am On Jul 31
Where will local man run to.....dx country wahala don dey too much

Even satchet water don dey cost in a way
Re: Bread Price Increase Looms As Wheat Cost Rises 33% by optimus106(m): 11:32am On Jul 31
I don't like bread...

Next news pls.
Re: Bread Price Increase Looms As Wheat Cost Rises 33% by zombieTRACKER: 11:32am On Jul 31
Maxymilliano:
Buhari kilode ?

Failure can never change

1 Like

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Lastmankc(m): 11:33am On Jul 31
Blame the dullard for this

1 Like

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by b3llo(m): 11:34am On Jul 31
If our daily bread cost increase Na die we dey for this country. Unemployment and Corona Virus 19 have finished the common man on the street.

1 Like

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by AfroKnight: 11:34am On Jul 31
Nigerians would take advantage of anything. Shame on these farmers with their lame excuses.

1 Like

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by meum: 11:35am On Jul 31
Man shall not live by bread alone... grin

2 Likes

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by NobleView(m): 11:35am On Jul 31
jjn,
Re: Bread Price Increase Looms As Wheat Cost Rises 33% by SarkinYarki: 11:36am On Jul 31
People still eat bread ? Avoid that poison

2 Likes 1 Share

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by Matrimonous: 11:36am On Jul 31
Our double digits inflation can kill any biz.

1 Like

Re: Bread Price Increase Looms As Wheat Cost Rises 33% by saviourGeorge: 11:39am On Jul 31
Anyhow e high reach
man must wack

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