Wheat costs raise bread prices again

[NNN0LHI]

http://www.chicagotribune.com/business/chi-fri_3brief_1214dec14,0,6330564.story

Bloomberg News
December 14, 2007

Sara Lee Corp., the maker of Ball Park hot dogs and its namesake frozen pies, is raising bread prices in North America for the second time since September to counter higher wheat costs.

"We increased prices by 5 percent in September and we are doing it again at this moment," Sara Lee Chief Financial Officer Theo de Kool said Wednesday. He declined to say how much Sara Lee is raising prices this time. "I haven't seen adverse effect on volumes."

Sara Lee's latest price increase for bakery products will take effect in the quarter starting next month, de Kool said. The cost of wheat has doubled in the past year, he said.

[Mnemosyne]

1. Wait till next year... n/t

:kick:

[Jackpine Radical]

2. Fortunately I just heard that the chocolate ration is being increased.

[glowing]

3. I'm so glad I can make my own bread.. Its now becoming a necessity

rather than a novelty.

[Rex]

4. Bread and milk...but everything is fine! The economy is humming right along.

Careful, it might hit you too!

[Solar_Power]

5. Gotta make that biodiesel and ethanol somehow

to fuel those monster trucks and SUVs

[L. Coyote]

6. I don't buy their story. The price of grain is such a tiny fraction of costs.

Every farmer knows how much bread a bushel of grain makes, like a carload!!

The high grain prices are a boom to agriculture in the USA, and a rare moment for struggling farm families.

[Blackhatjack]

7. Fresh baked bread in the grocery store has gone up 50% in last year here!

[havocmom]

8. Price of diesel has something to do with it too

Takes diesel to plant, harvest and get grain to market. Takes more to get bread to a shelf near you.

Diesel has been way (like a dollar per gallon) higher than gas around here for over two years now. And they grow wheat around here.