Georgetown – The Government today stated that the increase in flour prices on the world market has now affected other Caribbean countries and as a result this will see an increase in flour products by some companies which imports flour from Trinidad and Tobago.
Earlier this week, the Minister of Commerce Maniram Prashad, along with President Bharrat Jagdeo addressed the issue of an increase by the National Milling Company (NAMILCO) as a result of an increase in wheat. However, the President requested an adjustment in the proposed hike in flour from 15% to 10%, which was granted.
The President had urged local bakers to try to avoid the trickledown effect which consumers could face as a result of rising flour prices on the regional and international markets.
Minister Prashad said, subsequent to the Monday's meeting the acquisition price in Trinidad went up so the local bakery had to announce an increase.
The Minister stated that Government has not intervened now, as it has on previous occasions, because the increase is minimal, adding that it is at present working closely with the companies to monitor prices.
