The price of Nigerian grown wheat has risen by 33 per cent due to the low production volumes of the product.
The rise in the cost of wheat may lead to increase in the prices of bread and other pastries. Wheat is the major raw material for flour used in baking.
“We set a price of N180,000 per metric tonne but the market demand raised the price to N240,000 per metric tonne, which the off-takers are not willing to accept,” Muhammad explained.He added that farmers were unable to meet market demand for the product. “The farmers who were able to harvest successfully did not have access to market because of the lockdown,” Muhammad said.
Meanwhile, the Association of Master Bakers and Caterers in Lagos State are also complaining of a hike in the rates of baking materials, including flour, due to the COVID-19 pandemic.
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