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BUA Group Raises Prices of Sugar, Flour, and Spaghetti Following Cement Price Reduction

October 9, 2023

In a surprising turn of events, the BUA Group, known for its presence in the Nigerian market, has silently increased the prices of its sugar, flour, and spaghetti products shortly after announcing a reduction in cement prices. This development has raised concerns among consumers and traders alike.

A recent market survey conducted at the bustling Kano Singer Market in Kano, Nigeria, has unveiled the extent of these price hikes. Just days ago, sugar was available for N44,000 per bag, spaghetti for N8,100 per carton, and a bag of flour for N32,500. However, as per the latest findings, these staple commodities now come with significantly heftier price tags of N47,500 for sugar, N9,000 for spaghetti, and N34,500 for flour.

Dealers of BUA Foods in Kano confirmed the sudden price surge, attributing it to the company’s decision to reduce cement prices. One dealer stated, “We have observed the increase this week. The price of a bag of flour has now risen to N34,500, a noticeable increase of about N2,000 compared to last week when it ranged from N31,000 to N32,000. On sugar, there is no standard price, but it is now being sold for up to N48,000 in the market, whereas it was priced between N44,500 and N45,000 per bag just last week.”

The dealer also revealed that BUA Group typically communicates such price changes through telephone calls, leaving both retailers and consumers with little prior notice.

It remains to be seen how these price fluctuations will impact consumers, particularly in a time when economic stability and the cost of living are pressing concerns for many Nigerians. As this situation unfolds, consumers and industry experts will closely monitor any further developments in BUA Group’s pricing strategies.

 

Credit/Photo: Imran Muhammad/X

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