Head of the Couva/Point Lisas Chamber of Commerce, Mukesh Ramsingh is calling on more manufacturers to follow the lead of Nutrimix and decrease prices on goods in light of the added decrease in freight costs.
In a GML interview, Ramsingh praised the moved by its member, Nutrimix, on its decision to decrease the price of its flour.
Nutrimix reduced prices between 10 to 13 per cent on certain products this past week.
Ramsingh said he hopes that the decrease in price may trickle down to the consumer “Now that the price of flour has dropped, can we expect a trickle-down effect? Will food items like roti, doubles and bakery items be decreased?”
He added the reduction of freight prices from an average of $22,000 to $3000 per 20 foot container has already manifested in the lowered price of steel and hardware supplies in the country.
“The international supply chain is finally stabilizing. With cheaper freight prices, many manufacturers are experiencing lower costs of inputs.”
Ramsingh said: “We welcome reduced flour prices and we look forward to seeing a direct effect within the food industry.”