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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.

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