Home Business-newBusiness The price of bread would rise 22% in Mexico

The price of bread would rise 22% in Mexico

by Yucatan Times
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The increase in the price of wheat of around 22% can generate an increase in the cost of bread for Mexican consumers of the same percentage, assured Amador Méndez, president of the National Association of Suppliers of the Bakery Industry (Anpropan).

(ANPROPAN).- Méndez explained that the sector is going through a difficult situation due to the increase in the price of raw materials and this year it will be much more complicated due to the effect of the war between Ukraine and Russia.

While presenting the Mexipan 2022 Fair, which will take place in July, he said that if bread prices increase and wages do not rise in the same proportion, there will be a decrease in demand for the product.

Méndez explained that the baking industry in Mexico operates in a free market without regulation or controlled prices, so depending on the increase in the costs of input, each business decides to maintain or increase the price of its product.

With the pandemic, many of the 56,000 businesses in the sector were forced to close and now Russia’s invasion of Ukraine, which began in February, is the latest factor that is causing an increase in the price of wheat worldwide, which obviously affects the Mexican baking industry sector.

The culture of bread in Mexico is one of the most important in the world with more than two thousand different varieties of bread, which is a global record. An average of 33.5 kilos per capita per year of all types of bread is consumed in the country as for most Mexicans, bread is basic food.

At the Mexipan 2022 Fair, the largest in Mexico and the leader in Latin America, a face-to-face and virtual business platform will be offered with more than 200 suppliers from the bakery, pastry, chocolate, and ice cream industries.

The Mexican baking industry employs more than 160,000 workers and is one of the most important in the food sector, accounting for 11% of national sales in that genre.

According to Anpropan, the market value of this industry is approximately 57,000 million pesos (around 2,850 million dollars) with growth rates of 2% to 3% per year, although in the last 10 years there has been a slight trend of annualized decrease. of 0.2%.

At Mexipan 2022, there will be demonstrations of innovation trends in the sector with a sample of the talent of national and international professionals in the industry (chefs, technicians, master chefs, master pastry chefs, professors, etc).

TYT Newsroom

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