French Bakers to Raise Baguette Prices After Wheat Costs Double BusinessWeek
French Bakers to Raise Baguette Prices After Wheat Costs Double - BusinessWeek Jan. 17 (Bloomberg) -- “Liberty and baked bread” are all people really need, an old French proverb says. One of those is about to get more expensive as bakeries raise Baguette prices to pass on surging grain costs. “We have no choice,” said Michel Galloyer, whose Baguette was voted the best in Paris in 2010. “Wheat prices have exploded. We’ll have to pass on 4 to 5 cents when flour prices start to rise, probably in February.” The French consume about 23 million Baguettes a day -- more than 8 billion every year -- supplied by 33,000 bakeries and retailers such as Carrefour SA, the National Association of French Millers estimates.
