Global increases in sugar prices are poised to impact local bakery supplies this year, as companies grapple with the affordability of this essential ingredient. As the Christmas season approaches rapidly, the looming question remains: will demand outstrip supply? Ongoing surveys conducted by the International Sugar Organization (ISO) reveal a consistent upward trajectory in sugar prices, despite recent fluctuations.
This persistent trend spells concern for small business owners, particularly those in the baking industry. There’s worry that reaching the same volume of customers as in previous years might prove challenging, potentially necessitating price hikes for their products. Swaihne McDaniel, the Owner of a Manchester-based bakery expresses concern that raising prices could prompt consumers to prioritize their spending, potentially resulting in a loss for businesses like his. The confluence of rising sugar prices and the approaching festive season has left many in the industry uncertain about maintaining both supply levels and consumer interest in their offerings.Watch the report:
