Global rises in bread prices are set to continue as grain prices continue to put pressure on bakers according to a trade association.
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The president of the International Union of Bakers and Bakers-Confectioners said on Monday that consumers needed to accept that bread and milk and other products are more expensive than in the past.
Bert Kolkman told Reuters on the sidelines of the union’s meeting in Budapest: “”It is the structural price, I don’t think it will go down in the future.”
UK baker Premier Foods said today that it may be forced to raise bread prices again, as wheat costs reached “unprecedented levels”.
Announcing a fall in first half profits Robert Schofield, chief executive of Premier Foods said: “Wheat prices have seen an unprecedented level of increase over the last few weeks and we are pleased to have been able to implement price rises across our bread and flour products from the start of September. However, if current wheat prices persist additional bread and flour price increases will be required. Other raw material cost inflation is also significant, making price increases across many of our products necessary.”
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