What Will Happen When Bread Subsidy Expires?

Are Belizeans still at risk of paying a higher price for a sixteen-ounce pack of bread? That is a decision that will be made by cabinet at the start of the new year when the bread subsidy expires. Earlier this year, bakers announced that they would have to increase the cost of the sixteen-ounce pack of bread, which is regulated by law. The increasing cost of wheat on the international market, specifically due to the issues between Ukraine and Russia, was trickling down to the bakers and their cost of production for the basic commodity was up. The Government of Belize provided a subsidy to the bakers to ensure that consumers were not affected. But that subsidy expires in December. Minister of Food Security, Jose Abelardo Mai, told the media today that the world price for wheat has been on a downward trend.

Jose Abelardo Mai

Jose Abelardo Mai, Minister of Agriculture, Food Security & Enterprise

“That’s a matter that cabinet will have to decide. Right now, we are monitoring the price of wheat on the world market. We are in very close communication with those who import wheat. But I must tell you that the last information we received is that the price of wheat was going down on the world market which js good news. If it is going down to what it used to be, I do not know. That’s why we have been monitoring the prices. Our supplies control team is always out there looking at information coming in and feeding us with it so that cabinet can make an intelligent decision on this matter.”