Trinidad and Tobago’s second-largest flour provider, Nutrimix, is also set to raise the prices of its products.
Smack dab on the heels of the news that National Flour Mills will be raising prices from January 3rd, Nutrimix announced on Friday that it will introduce increases of up to 20 per cent on its products from next Tuesday, January 4th.
NFM intends to introduce a 15-22 per cent increase in wholesale flour prices and a suggested 19 per cent increase in retail prices, a ten per cent increase of the retail price of Hibiscus flour and a 17 per cent increase on Ibis flour from January 3.
In a release, Nutrimix said their last price hike was 14 years ago.
It stated that with the increase of global wheat prices and shipping, packaging, distribution and other vital inputs, over the last two years, they could not continue to absorb the heavy costs associated with the additional charges.
The two-kilogramme and ten-kilogramme All-Purpose bags of flour would incur a flat increase of eight per cent and 14 per cent respectively. But all other retail items found in supermarkets, mini-marts and parlours would see an increase of eight to 20 per cent, depending on the product.
Baker’s 45 kg bag of flour and Ultra Gluten Flour’s range of products – most widely used by bakeries, commercial and industrial sectors – will see a one to 14 per cent increase.
The company said it had worked hard to minimise the effect of adjustments on the household as it considered the increases.
“Our Nutrimix team has been serving TT for over 40 years. Our people, every one of our 500 employees, take their responsibilities seriously. We adhere to the strictest quality controls in every aspect of production so that you can take care of your family with peace of mind. We hope to continue to provide the nourishment that helps you and your family pursue your goals and dreams,” the release said.