The bagel business is beginning to crumble as the high cost of flour is reducing profits, and area pizzerias report keeping a smaller slice of the pie as the price of wheat has risen to its highest level in decades.
According to a news report from zwire.com, “Wheat stockpiles in the U.S. have hit a 30-year low, following seven years of world consumption that has exceeded production. Federal projections show America’s supply at its lowest levels since the 1940s.”
“While consumers can reduce their food costs by purchasing less, that’s no consolation for local bagel shop and pizzeria owners, who are dealing with skyrocketing expenses,” said the story. “Peter Rappa, owner of Broadway Gourmet Pizza and Pasta in Hewlett, said that just four months ago he was paying $11 for a 50-pound bag of flour, and now that same bag is costing him $33. Rappa, who has been in business at the same Broadway location with his wife, Anna, for the last decade, said that he has been forced to shop around for better wholesale prices. Small store owners like the Rappas are having to pinch pennies to stay profitable.”
