The Association of Master Bakers and Caterers of Nigeria on Thursday, July 6, has lamented the refusal of the flour millers to reduce the price of flour despite the fall in the price of raw materials.
The south west vice chairman of the association, Prince Jacob Adejorin said his members met with flour millers but to no avail, he also added that bakers may be forced to embark on nationwide strike if they still refuse.
Adejorin speaking with the News agency of Nigeria(NAN) said :
“Naira has appreciated against the dollar and the price of diesel has fallen drastically from N250 per litre to N170 across the country. “We bakers cannot continue to buy a bag of flour at N11, 300 which was the price fixed when the naira was exchanged at N500 to a dollar. “We proposed a reduced price range of between N9, 500 and N10, 000 per bag, but the millers declined the proposal. “Out of the five flour mills in the country, only one mill accepted our plea and is selling to us at N10, 600 per bag, which is commendable. “The stance of other flour mills is that reduction in price will only happen when naira/dollar exchange rate is N300. We do not know when that will occur. “We cannot continue to bear the financial burden of high cost of production, dearth of bakeries and lack of profit as most bakers are currently living from hand to mouth,”