South Africa's biggest food manufacturer, Tiger Brands, is going back to the drawing board with its breads business as cash-strapped consumers look elsewhere to buy the staple food.
The food company – which produces wheat wraps, buns, rolls and bread under its Albany brand – has seen bread consumption decline by 5%, with significant volume losses having impacted revenue amid intensifying bread price wars.
The JSE-listed group has acknowledged the impact of pricing strategies that don't reflect the market's needs, intense competition, strike action, and higher fuel costs. And Tiger Brands CFO Deepa Sita admits the group is concerned about its bread performance.
