Saturday, April 20, 2024

Government says no to increasing bread prices; cost is on the rise


An official note from the recent Cabinet meeting was released on Thursday, April 28th, denying the request to increase the price of 16-ounce sliced bread. The government also rejected a request to approve an increase of 50% on the wholesale price.

The Cabinet briefing made it clear that no price increase would be allowed. Instead, the Ministry of Agriculture, Food Security and Enterprise was instructed to engage with the Association of Bakers to ensure other alternatives to minimize the possibility of drastic increases. Such increases refer to the 16-ounce pack of bread.

According to reports, bakers, аѕ wеll as the flоur mіll АDМ Веlіzе Міllѕ on the mainland hаd аѕkеd fоr іnсrеаѕеѕ іn thе рrісеѕ оf flоur аnd ѕlісеd brеаd. The Supplies and Control Unit has not confirmed any increases in flour prices.

However, in a note circulated on social media and shared by bakeries, bread prices increased due to the high costs of raw materials. In San Pedro Town, loaves of bread surpassing the 16-ounce mark are exempt from controlled price regulations. Some stores have not increased their prices, while others are now charging more for the daily staple due to the new acquisition price. One bakery in town announced the increase and the suggested wholesale and retail prices.

Stakeholders in the baking industry say that other key elements are involved in producing this daily staple. As previously noted by the Supplies and Control Unit, there have been increases in the cost of items like cooking material, packaging, liquid petroleum gas, and the distribution that requires fossil fuels. In addition, bakers claim they have been operating at a loss, and an increase is imminent to continue delivering services to their customers.

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