Bakers Association Cancels Price Increase for 16-Ounce Bread Following Subsidy Agreement

Tonight, we can report that the price of a sixteen-ounce pack of bread will not see an increase. The Bakers Association issued a release today stating that after talks with the Ministry of Agriculture and Food Security and the Director of the Supplies Control Unit, they have received a written commitment for a subsidy program. The association says the monetary aid will assist the bakers and ultimately benefit the consumer. The bakers have now called off the proposed increase and say the price of the 16-ounce loaf will remain at $1.50 wholesale and $1.75 retail. Additionally, GOB made a further commitment to continue discussions aimed at ensuring the viability of the baking industry.