Lagos bakers say they are running at a loss.
The President of Lagos State Chapter of Association of Master Bakers and Caterers, Jacob Adejorin, on Monday, appealed to the public over the hike in the price of bread.
Mr. Adejorin said in Lagos that the increase is unavoidable because bakers can no longer run the business at a loss.
“It is not our desire to make life uncomfortable for members of the public. We have seriously considered them before increasing the price of our products,” he said.
He said that ingredients used in the production of bread have become too expensive for bakers.
The master baker said that a bag of wheat is now being sold for N7,100 against the previous price of N5,750; while a bag of sugar is now N9,000 from N5,000.
“Many of our members have gone out of business. Some of them have been forced to return to their villages, while others have taken to other businesses,” he said.
Meanwhile, John Talabi, a baker and bread vendor, said that sales had dropped due to the price hike.
Mr. Talabi, the Manager of Mainstream Bakery in Ojuelegba, Lagos, said that consumers are yet to adapt to the new price.
“We are recording very low sales since the prices were hiked,” he said. “Many people don’t want to understand why the price was increased. Once you tell them the new price, they will just walk away.”
He said that bakers are producing small quantities with the hope that members of the public will soon adapt to the price increase.
Eniola Adeagbo, a bread vendor, said that a loaf of Val-U bread and UTC bread, which used to cost N180 now goes for N220.
Mr. Adeagbo said that the loaves that used to cost N100 and N120 now cost N120 and N150 respectively, while the N150 loaf now sells for N200.