Business News of Thursday, 22 January 2004

Source: GNA

Ashanti Bakers protest against flour price hike

Kumasi, Jan. 22, GNA- The Ashanti branch of the Ghana National Flour Users Association has protested against the 17 per cent hike in the price of flour by the Flour Milling Companies.

At a meeting in Kumasi on Wednesday, they said they found the new increases unacceptable, as it would push the price of bread up. A bag of "Sankofa Flour", produced by GHAFCO, which used to sell at 185,000 cedis has now shot up to 222,000 cedis.

The Takoradi Mills "Stool" had gone up from 181,600 cedis to 209,250 cedis while the Irani goes up to 214,000 cedis from 182,000 cedis.

Mrs Comfort Akotuah, President of the Association, said while the bakers appreciate that it was within the right of the Companies to adjust prices of their products as and when they considered necessary, it would be more helpful if broad consultations were held with key users of the product before the increases.

She pointed out that if the companies refused to revert to the old prices and stuck to the new ones, "we would be forced with the unpleasant duty of passing on the price difference to the consumer".