Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Bread prices to increase as result of drought


Bread prices to increase as result of drought

Goodman Fielder is being forced to increase the average price of bread to recover the sharp rise in wheat costs caused by unprecedented droughts.

The ongoing drought in Australia, the US and Canada has resulted in a significant increase in wheat costs in the last four months.

Bread prices will increase by approximately 10 percent, or an average of 15 cents per loaf, on all loaf and speciality products such as rolls and buns.

Goodman Fielder managing director, Ron Vela, says the company regrets the increase however it can no longer continue to absorb the increased cost of wheat.

"If increasing wheat costs continue to come through we will also review prices early in the new year," he says.

The increase will be implemented from December 1, 2002.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Real Estate: Foreign Buyers Ban Passes Third Reading

The Bill to put in place the Government’s policy of banning overseas buyers of existing homes has passed its third and final reading in the House. More>>

ALSO:

Nine Merger: Fairfax Slashes Value Of NZ Business

Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. More>>

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>

ALSO:

Price Of Cheese: Fonterra CEO Goes Early After Milk Price Trimmed

Aug. 15 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world's biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. More>>

ALSO: