Bakeries in the Czech Republic are holding product prices in place, although wheat prices have dropped from CZK 8200 (EUR 346) per tonne to CZK 6000 (EUR 253) since last year. Companies are still struggling to catch up on two years of high-price spending on energy and grains, so the recent wheat price drop is not transferred to their customers, Czech Daily reports.
The news outlet shared a statement from the Czech Baker and Confectioner Association’s chairman, Bohumil Hlavatý, saying that over two-thirds of bakeries suffered losses in 2021, with many struggling to repay energy debts.
This is a problem faced by many other European countries.
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