Price of Maltese loaf goes up by 1c

The price of the traditional Maltese loaf has gone up by 1c in order to help meet bakers' demands after wheat prices rose sharply. The government will also be raising its subsidy on flour by 30 per cent from Lm680,000 to around Lm900,000 each year to...

The price of the traditional Maltese loaf has gone up by 1c in order to help meet bakers' demands after wheat prices rose sharply.

The government will also be raising its subsidy on flour by 30 per cent from Lm680,000 to around Lm900,000 each year to cushion the impact on bakers after the price of a 50kg sack of wheat rose by Lm1.60 two weeks ago.

A large loaf will now cost 20c, (€0.46), with the smaller version selling for 13c (€0.30). The Ministry of Competitiveness took the decision following talks with the Bakers' Cooperative.

The government chose the compromise solution after bakers last week demanded either a 2c rise or a subsidy to cover the whole increase.

The increase in the cost of wheat was due to many factors including unfavourable weather conditions, the ever-increasing demand from developing countries and the use of these products for biofuel production.

The price rise is in line with an increase in the cost of cereals on the international market.

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