THE PRICE OF BREAD SET TO INCREASE

By Sylvester Raraza

Email: sylvesterraraza@gmail.com

Twitter: @Syvester_tut

Bread, breakfast cereals, maize meal (which is used to make popular South African cuisine Pap) and other food products that are produced by using grain, are all set for price increments, according to South Africa’s largest food producer Tiger Brands. These food price increases are going to hammer already under pressure consumers, who have been hit with continued fuel price hikes.

Tiger Brands anticipates that wheat and grain food products are likely to surge at a rate of between 15% and 20%. And it doesn’t end there, Tiger Brands Chief Executive Officer (CEO) Noel Doyl, says Koo baked beans and other food products packaged in tins should be expected to rise in costs. Consumers have certainly been feeling the pinch of food price inflation.

Picture: Albany via their website.


The context from which these food price hikes should be drawn from is the conflict in Europe, between Russia and Ukraine, and China’s very strict covid-19 policies. Russia’s invasion of Ukraine and a subsequent war breaking out, resulted in the most aggressive sanctions against Moscow. Russia is an exporter of tons of wheat and grain, but exports declined because of sanctions, and because of that, food prices increased around the globe.

Ukraine also exports large quantities of grain, but since the war broke out it has been struggling with economic activity and Russia is blocking exports out of Ukraine from Russian-held territory. Russian President Vladimir Putin is now trying to use this situation to try and negotiate the easing of sanctions against Russia by the European Union.

In China, the government has imposed some of the harshest covid-19 rules and lockdowns, resulting in the suspension of operations at factories and other businesses. The zero covid-19 policy in China caused an upsetting supply chain challenge for businesses across the world, including Tiger Brands, which relies on China for cheap tin to package their products here in South Africa.

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