That's a bargain, £19 will be cost price in 2022. Might be £4 extra or so today.
Heh - even at £25 that's "only" a 31% increase which seems to be on the low side compared to some other maltsters, I imagine a lot depends on when their energy contracts renew.
I suspect there's something about the way that Bairds pricing works that makes them attractive to a certain size of micro, I imagine they're relatively cheap. The only time I've used their pale was a sack I bought from a local brewery going into lockdown and I must admit I'm not a fan - it was super-floury and it carried over into the final beer. I don't usually fine that much as my process usually gives me pretty clear beer, but even with fining and a 100u filter it would still leave the beer kind of murky (and not in a good way).
Nice healthy margin the maltmiller and the likes are making per sack.
Sales are vanity, profit is sanity, cashflow is reality. What matters is the margin you make after paying your fixed costs, like rent, utilities, salaries/pension/NI (for 14 people in the case of TMM) and so on. If it's that easy and that profitable, why aren't you doing it?
But just looking internationally, eg in the US the cheapest domestic pale malt at my namesake is
Briess at $49.99 (plus a $1 "fuel surcharge!") for 50lb - which works out at £46.63 for 55lb (ie 25kg), and then shipping in the US is generally pretty brutal. Warminster Otter is double that (and it's not like they really make it back on the US domestic stuff like eg Citra is ~£7.50/100g, White Labs are £9.14/pack).
Brouwland's cheapest pale is
Castle at €35.49, or £31.51 for 25kg, with Munton's Otter for £37.94.
There's no getting away from it, it's just expensive to do business these days.