Bengaluru: Customers’ pockets have been hit by the new bread price. This has come in a time when prices for vegetables, LPG cylinders, and other essential items continue to increase in the country. Now, the price of a pound of bread in Bengaluru has increased by Rs. 5 owing to several reasons, including the prolonged conflict between the Ukraine and Russia, growing input costs, and a labour shortage.
In the last six months, wholesale costs for wheat flour have increased by 37 per cent. The price of flour which was sold for Rs. 24 per kg has increased to Rs. 32.80. This has put pressure on bakers and bread producers to raise their product prices.
Similarly, the cost of bakery-grade maida has gone up from Rs. 30 to Rs 34 in just one week. Since wheat is a necessary raw material, its shortage has hindered procurement. It should be noted that the existing problems have also had an impact on the supply of sunflower and palm oil.
The top two nations that export palmolein oil are Indonesia and Malaysia. This oil is used by bakers to make margarine, a spread similar to butter that is used in baking. With Indonesia banning palmoline export, there existed pressure on Malaysia to meet the market demand. However, there is still a supply problem even after the ban is said to have been lifted.
Several manufacturers claim that despite the price hike, bread demand has not dropped in the City. They claim that City’s tight competition among bread suppliers has also contributed to price hikes as compared to other cities.
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