After unga, bread prices set to rise
A loaf of bread.
The prices of wheat products, including bread, are under fresh pressure after flour jumped 10 percent last week.
Millers say the rising price is due to expensive replacement of wheat stocks at a time Ukraine and Russia are at war, limiting supplies.
Millers are now paying Sh57,000 for a tonne of wheat landed in Mombasa from Sh45,600 in January, representing a 25 percent jump.
This comes even as the processors warn that the cost of the wheat products will rise further in the coming days as the current jump in the cost of wheat has not been fully factored in in the current hike.
“The cost of wheat has now become uncertain as it keeps on rising every day. The cost of replacing the stocks that we have at the moment is way too high,” said Rajan Shah, chief executive officer of Capwell Industries.
A two-kilo packet of Ajab, has shot from Sh157 last week to retail at Sh168 currently. Pembe and Exe for the same quantity are selling at Sh168 and Sh161 respectively.
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