The world wheat price has increased sharply in 2021, reaching an all-time high. This is likely to put pressure on bread prices in Vietnam, as the price of flour is expected to follow suit.
World wheat prices rose sharply |
Producers are facing a difficult situation, as they cannot simply increase the price of bread due to fierce competition. However, there is a way to escape from the price war: by focusing on quality and product diversification.
One solution is to gradually shift production towards higher-quality products. This means setting aside 10-20% of the output to make better-quality, tastier, and more beautiful breads, while maintaining the price at a reasonable level. This is a safe and worthwhile approach, as it will allow producers to differentiate their products and attract customers who are willing to pay more for quality.
We encourage you to try this approach and let us know the results. By working together, we can improve the quality of bread in Vietnam and ensure that consumers have access to high-quality products at reasonable prices.