ANPEC Report Price Increases in Bimbo Products in April 2023
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ANPEC Report Price Increases in Bimbo Products in April 2023

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Eliza Galeana By Eliza Galeana | Junior Journalist & Industry Analyst - Thu, 04/20/2023 - 23:12

The National Alliance of Small Traders (ANPEC) reported that prices of Bimbo bread, toast and flour tortillas showed an increase in grocery stores. Grupo Bimbo, however, said that the information is inaccurate. 

According to an ANPEC report, Bimbo announced a new list of prices to be handled by retailers in Mexico on April 17, 2023. Increases range from MX$2 (US$.11) to MX$14 (US$.78), representing an increase of 6% to 28% for the different presentations of sliced bread. Prices of flour tortillas rose between MX$1 (US$.056) and MX$3 (US$.17), which is equivalent to an increase of 4% to 11%.

The most significant changes were seen in the prices of rye bread, which showed an increase of 27.5%, going from MX$51 (US$2.83) to MX$65 (US$3.61), followed by whole wheat toast, with an increase of 16.1%, reaching a price of MX$36 (US$2). This represents an uptick of MX$5 (US$.28) against 1Q22. The large white bread presentation will go from MX$42 (US$2.33) to MX$45 (US$2.5), the small white bread presentation from MX$34 (US$1.89) to MX$36 (US$2), while the small whole wheat bread presentation will rise from MX$35 (US$1.94) to MX$37 (US$2.06). 

In the case of Del Hogar flour tortillas, the 20-piece presentation will go from MX$27 (US$1.50) to MX$30 (US$1.67). Meanwhile, the 30 and 22-piece presentations of Tortillinas Tia Rosa will increase MX$3 (US$.17) each. According to ANPEC, these price increases will have an impact on inflation, which last March stood at 6.85%.

In an interview with La Jornada, Grupo Bimbo stated that the information disseminated by ANPEC is inaccurate, since the company has not foreseen any price increases in sliced bread to be applied in April 2023.

In 2022, Bimbo’s global sales registered record levels of MX$398.7 billion (US$22.1 billion), an increase of 17.7% over 2021, mainly fueled by a favorable price mix and a strong performance in all regions. In Mexico, net sales increased 19.5% in 2022, attributable to the favorable mix of products and the increase in prices. All channels recorded double-digit growth, most notably convenience, self-service and traditional channels, as well as snack categories, sweet bread, pastries, cookies and bread.

Photo by:   Envato Elements

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