Bakers in Kumasi will soon petition the Ministry of Trade and Industry over the increasing prices of flour in Ghana, myrepubliconline.com has been reliably informed.
Information gathered by this medium has it that the bakers are through with plans on staging a massive demonstration in Kumasi against the government and local producing companies of flour.
Executives of the Ashanti Bakers Association have confirmed the reports and reasons given are that; the spiralling inflation characterised by the sporadic increase in the prices of flour, margarine, sugar etc needed for the production of bread has imposed unbearable pressure on their business.
The majority of Bakers in the Ashanti region and Ghana, according to executives have been out of business since they cannot afford the present production cost caused by what they have described as an insane increment.
From the year 2016 and before the wake of COVID-19, the price of a bag of flour was sold in Ghana at GHs 120.
It shot up to GHs 160 in 2021, jumping up to GHs 200 in the wake of the Russia-Ukraine war.
Consequent to the Cedi-dollar inflation, it climbed to GHs 400.
Within the following two weeks, it shot up abnormally to GHs 500 and then to GHs 570 in the next 2 weeks.
It shot up again to the current price which is GHs 680 within another two weeks.
“Last month the price of margarine was GHs 580 but currently it is sold at 750”, he added.
Speaking exclusively to myrepubliconline.com, Financial Secretary for the association Isaac Agyemang lamented that the price of a bag of flour has been subjected to weekly inflation by local producers.
“Every week they increase the price of a bag of flour and even as I speak to you now, a bag is sold at GHs 680”, he said in a mournful tone.
“However, the price of those imported from cote d’ivoire is sold in Ghana around GHs 400 and those sold in cote d’ivoire is pegged around GHs 300.”, a Baker called Matilda Annor told this medium.
On a much sad note, she mentioned that bakers are barred by customs officials from purchasing the ones imported from Cote d’ Ivoire on the pretest that importers smuggled them into the country.
Executives of the Association are suspecting that giant manufacturing companies namely Olam Company, Flour Mills of Ghana, Irani Brothers and Takoradi Flour Mills are behind the “mafia” game played out against them and have therefore called on the government to address the issue.