Prime Minister Dr Keith Rowley has voiced his concerns over the fact that bakeries and doubles makers have yet to lower their prices, despite the cost of flour being reduced by three producers to the tune of 10 to 13 %.
On his Facebook page this morning, Dr Rowley posted an image of a Guardian article which quoted a bakery owner as saying that lower flour prices are not good enough to reduce the cost of doubles and bread.
Dr Rowley wrote: “So a higher flour price was enough to see an instant rise in the price of bread but a lower flour price is not enough to lower the price of doubles and bread?”
In a media release this morning The Trinidad and Tobago Manufacturers’ Association (TTMA) commended its members, Nutrimix, National Flour Mills and Sheik Lisha Limited for announcing their intended price decrease on flour in the near future.
The TTMA said the decision by these companies to reduce flour prices due to the global decrease in price of grain indicates that manufacturers continue to be conscious of the impact their products have on the cost of living for consumers.
They added, “The domino effect of this global decrease in the price of grain highlights the potential impact of external factors on manufacturers.”