NewsWhore
08-30-2010, 06:30 PM
The president of the Association of the Union of Small and Medium Flour Businesses (UMPIH), Francisco Capellan, warned on Saturday that the only thing that can halt an increase in the price of bread is a government subsidy for the sector. Nevertheless, he doubted that such a subsidy would come about due to the commitments the administration has with the International Monetary Fund (IMF). According to El Nuevo Diario, bakers have threatened to raise the price of the most popular types of bread to RD$7 on the grounds that their production costs have increased, including the cost of wheat. Capellan said that the increase in the price of wheat on the international markets is caused by Russia's freeze on exports because of the heat wave and the prolonged drought. He said that while consumers will be angry about the move, it is the only way that bakers can make any profit.
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