"Hot" bread: flour has risen in price by 7-10%

Prices for flour will skyrocket, as well as for gasoline? The answer is yes! As in the case of fuel at gas stations, the price of which jumped almost immediately after the increase in world oil prices, the same happened with flour.

“Our suppliers have informed us that flour prices from next week will be increased by 7-10% due to rising wheat prices in international markets” said Mr. Michalis Musios, President of the Hellenic Bakers’ Federation, calling on the state and control mechanisms to intervene.

The increase of 7-10% means that bakers will receive flour at 19-20 euros per bag, compared to 17-18 euros, which is the average price now.

Does this portend a new rise in bread prices? Musios said that the issue would be put on hold for the time being and there will be no immediate increase in the price of bread. However, the official notes that it will be possible to see an increase in the price of packaged bread in supermarkets. According to him, bakeries pay 80% more for flour than at the beginning of 2022, before the start of the Russian-Ukrainian war.

This is due to the fact that, despite the fall in world prices for wheat in 2022 and 2023 (including before the cancellation of the Black Sea Agreement on July 17 this year), flour prices fell by only 10% compared to March last year, he points out. .

Recall that immediately after the Russian invasion of Ukraine, the price of soft wheat on the commodity exchange in Paris exceeded 400 euros / t, and in the following months it significantly decreased, even reaching the level of 220 euros / t.

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“This is not only flour, the price of which has stabilized at a high level since March last year. These are sugar, rising prices for butter, cheese, meat and much more,” emphasizes Mr. Musios.

In the same time energy costs for businesses remain highbecause they are paying twice as much as they did before the energy crisis, putting the viability of several dozen bakeries in jeopardy.

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