Home Business Bakeries Announce Even Higher Bread Prices As Oil, Wheat Prices Bite

Bakeries Announce Even Higher Bread Prices As Oil, Wheat Prices Bite

Bread prices are expected to rise even more across the country as bakers bemoan rising costs for cooking oil, fuel, wheat, and packaging.

The maker of Broadways bread, Broadway Bakery, has announced that a 400g loaf will soon cost Ksh.60, up from the Ksh.55 it cost recently.

According to Broadway Managing Director Bimal Shah, the 600g loaf will increase from Ksh.83 to Ksh.90, and the 800g loaf will increase from Ksh.100 to Ksh.110.

“The price of everything has gone up. We are grappling with the high cost of diesel on transport, expensive cooking oil and an increase in packaging material, which is now up by 20 percent,” Shah was on Tuesday quoted by Business Daily as saying.

Mini Bakeries, which makes the Supa Loaf brand, has in the meantime raised the price of 400g bread from Ksh.55 to Ksh.60.

Manufacturers of cooking oil in the country last week warned Kenyans of a looming shortage of the commodity as well as increased prices amid Indonesia’s ban of palm oil exports.

While palm oil makes over half of global edible vegetable oil, Indonesia accounts for a third of the world’s palm oil exports.

Kenya mainly imports vegetable oils such as sunflower oils, soybean, corn oil, and crude palm oil from Malaysia and Indonesia, but weak production over the last six months in Malaysia due to floods and labor shortages has seen Kenya resort to Indonesia’s palm oil.

At the same time, wheat prices have been rising since Russia’s announcement that it would be invading Ukraine in February.

The two countries supply Kenya with 66 percent of the total wheat that is consumed locally and the tensions have borne logistical challenges and export bans, making prices go up by around Ksh.10,000 per metric tonne.

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