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Business News of Friday, 12 October 2007

Source: GNA

GHANFUA increases price of bread and flour products

Kumasi, Oct 12, GNA - The Ghana National Flour Users Association (GHANFUA), has announced an upward adjustment in the price of bread and other products as a result of persistent increase in the price of flour.

Under the new measures, which took immediate effect, the minimum price for a loaf of bread was to be sold at 60 Ghana pesewas whiles the maximum will be sold at 150 Ghana pesewas. Mrs Comfort Potua, President of the Ashanti regional branch of GHANFUA announced this at a news conference organized the by the Association in Kumasi on Thursday.

She noted that since the past four months a 60 kilogramme of flour had been increased by 60 per cent from 24 Ghana cedis to 38 Ghana cedis for Takoradi Flour Mills while Irani Brothers and GAFCO, distributor and manufacturer, sold at 40 Ghana cedis. Mrs Potua said the increase had affected flour users and that it was time they adjusted prices to arrest the situation. She stated that flour products were important food items eaten by almost everybody and therefore its increase in prices would affect every home.

The President said they could not continue to work at a loss and therefore appealed to the government and Flour producers to reduce the price of flour to enhance their activities. She stressed the need for non-members to join the association to help ensure uniformity in the production of bread and other flour products and also appealed to the public to bear with the situation.