Less than two weeks after announcing the reduction in the price of cement from N5500/6000 to the ex-factory price of N3, 500 per bag, the BUA Group has increased the prices of sugar, flour and spaghetti products.
While the price slash in cement is yet to be felt by consumers across the country as the cement is still being sold at the former prices despite the slash in price announced by the company, checks showed that the food arm of the manufacturing group recently increased prices of its sugar, flour and pasta products in the market.
As of last week, the price of sugar was N44,000 per bag, spaghetti N8,100 per carton, and a bag of flour sold for N32,500, the commodities are now being sold at N47,500, N9,000 and N34,500 respectively.
A dealer of BUA Foods in Kano said that the increase in prices of the commodities followed immediately after the company announced the reduction of its cement product. The dealer said: “We have observed an increase this week. Price of a bag of flour has now gone up to N34, 500 as against the N31, 000 to N32, 000 sold last week. About N3, 000 has been added to a bag of flour and it is from the company. For sugar, there is no standard price but it is being sold as high as N48, 000 now in the market. It was N44, 500 to N45, 000 per bag just last week. We have just been notified about the increase this week via telephone calls.”
As a result of this increase, one single pack of spaghetti now retails for N550 in the market in areas where it is sold, just as sugar prices have also gone up.
A visit by The Guardian to Singa Market in Kano yesterday, revealed that BUA Pasta Pack of 20 pieces now goes for N9, 600 against N9,300 just last week.
A bag of BUA Sugar now goes for ₦48,000 against ₦46,300 while BUA flour is being sold for N35,500 against N33,500 it sold for last Saturday.
Source: The Guardian