The present invention provides a liquid bread improver and a method of producing a liquid bread improver. The liquid bread improver comprises a water slurry of a composition comprising up to 40 % (w/v) of a mixture of bread improver ingredients and the balance water, the mixture of bread improver ingredients comprising: (i) edible oxidising agent(s) 0.2-5 % (w/w); (ii) edible substance(s) containing or capable of producing -SH groups 0-1.0 % (w/w); (iii) fungal enzyme 50-300 SKBU/100g LBI; (iv) malt flour 0-40 % (w/w); (v) emulsifier(s) 0-40 % (w/w); (vi) inorganic mineral salt(s) 0-20 % (w/w); (vii) inactive dried yeast 0-4 % (w/w); (viii) yeast extract 0-10 % (w/w); (ix) edible oil(s) 0-40 % (w/w); (x) edible water soluble gum 0-5 % (w/w); (xi) carrier material: balance.