Flour price expected to rise in February

Milling industries of Cameroon explained this increase by strong fiscal pressure and the doubling of the minimum amount of tax imposed by the law of finances for the year 2015.

The Millers agreed: they are going to revise upward the price of bread from February 1, 2015. They took this resolution at the extraordinary general meeting of the grouping of milling industries of Cameroon held January 20, 2015.

They decided to drive up the price of bread for two reasons: the doubling of the minimum collection of tax on corporations and strong fiscal pressure that could move from 75% to 98%. Constraints imposed by the law of Finance 2015.

Millers deplored the fact that "the sector of activity of the mill is low-margin (earnings before tax/turnover less than 2.5%) and can thus support the doubling of the minimum corporation tax of 1 to 2%. The other objective of the increase in the price of bread is the backup of some 15,000 jobs in the milling sector.

The announced increase could not concern only bread or wheat as the Donuts-based products. It could also affect farmed products that it manufactures with sounds of wheat.