Bread supplier laments commodity price volatility as “new normal”

NASSAU, BAHAMAS — A well-known Bahamian bread supplier yesterday lamented the price volatility and availability of necessary commodities, telling Eyewitness News, “this appears to be the new normal.”

Kimani Smith, Purity Bakery’s general manager said: “The cost of doing business is increasing for everyone. Commodity prices have increased. We are still having challenges with the supply chain and although it’s getting better it’s still nowhere near what it was pre-COVID.

“This appears to be the new normal. The price issue is out of our control. Businesses can try and be a bit more efficient to try and keep their operational costs down but here in The Bahamas where we have to buy materials and ingredients on the international market we are price takers. We find ourselves having to just pass the prices on. As much as we hate to pass price increases on to consumers businesses have to remain profitable. We have to monitor things and adjust accordingly.”

Ingredients such as flour and eggs have seen significant price jumps, with the latter being largely attributed to unresolved supply chain challenges brought on by the COVID-19 pandemic and a devastating avian flu outbreak. 

Smith said: “The price has increased on all comedies; flour, sugar shortening they all continue to increase. Even our packaging in which we place our bread has increased. That’s not even looking at the local taxes, increases in real property tax, utility costs, and shipping costs as well as an increase to the minimum wage.  It’s just things we have to contend with. It’s no one’s fault and no one really has a solution to it. We just have to roll with the punches and just hope you’re still staying when the punches land.”