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Should Companies Rise Price for Bread

Should Companies Rise Price for Bread?

Some bakery companies expect  the bread price hikes in September. According to Ipkli Deputy Director-General, if an increased flour price (from GEL 37 to 44) sustains, prices will  be revised next month.

“It should be noted that wheat prices could further  increase. In this case we will have to increase prices  this month the company not to work on a loss. Bread cost is expected to rise by 10 tetri” says Bakar Bakuradze. According to him, the increase in the cost of electricity will have an impact on the value of the product.

Puri Ltd doesn’t consider the bread price hikes. The company says that at this point they do not increase the price of bread. “So far, the weight and prices are maintained,”  they say in the company.

Lithuanian Bakery states that the company imports flour from Lithuania and Belarus and  in the near future are not going to rise  prices. Bakery Products Association Chairman announced about impending price hike based on the rising cost of flour. He says that  despite a large harvest of  the wheat,  flour price increased and the cost of  one sack rose from  GEL 37 to 44.