Some bakers in Kumasi, the regional capital of the Ashanti Region have increased prices of bread by, at least, 20 percent.
A loaf of bread which was priced at 5 Ghana cedis is now being sold at 6 Ghana cedis. This, the bakers say, is as a result of the rising cost of raw materials used in producing bread.
According to them, prices of basic ingredients like flour, milk, margarine, sugar and yeast used in baking bread have shot up significantly due to hikes in fuel prices and freight charges at port as most of these ingredients are imported.
They argue that the increase in prices of raw materials has led to an increase in cost of bread production and thus, leaving them with no option than to resort to increasing the price of bread.
The bakers had earlier planned to increase prices of the commodity but had to shelve the plan as result of disagreement on the part of other leading bakers in the golden city.
But some of the bakers who have already increased their prices say any further delay in increasing price of the commodity will lead to a collapse of their businesses.
