Business News of Friday, 3 May 2019

Source: classfmonline.com

Tamale: Bread price up

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Following a surge in the price of baking ingredients, the Northern Regional Association of Bakers has increased the price of bread.

Information gathered by Class91.3FM at some bakeries in Tamale show that the prices of tea bread, butter bread, cake bread and sugar bread have gone up.

Class FM’s visit to some bakeries on Tuesday revealed that a GHS2 loaf of tea bread was being sold to retailers at GHS10 for five pieces; and sold to consumers at GHS2.50 each.

Butter bread, which was sold at a wholesale price of GHS1.50 and retailed at GHS2 has been increased to GHS2 at the bakeries and GHS2.50 by retailers.

Additionally, cake bread, which was GHS5 is now GHS6. Similarly, a medium-size cake bread which sold at GHS2.50 is now selling at GHS3 and being retailed at GHS3.50.

Sugar bread, which was GHS4 at wholesale is now GHS5 and being retailed at GHS6.

The new prices were agreed by the bakers association.

The association had earlier embarked on a strike over the prices of baking ingredients.