Sheik Lisha Ltd is following the lead of Nutrimix Flour Mills and has announced that they too will be reducing the price of their flour products come next week.
Their announcement on Tuesday comes one day after Nutrimix stated that they have placed a ten per cent price reduction on its flour products.
Churchill Azad Akaloo, Managing Director at Sheik Lisha said that from next week, “all the flour products will be 10 per cent cheaper.”
Akaloo attributed the reason for their price drop to the decline in lower freight rates.
He explained, “If the container rates go down, commodities like plastic resin, will also go down. The paper will also go down, so this is why we have a cheaper price, because we want to pass this on to the consumer.”
Akaloo said it was only right to pass on whatever savings they could to customers who still have to face higher prices on other items at the cash register.
The National Flour Mills (NFM) have said they are currently assessing the situation regarding the price of grain and other inputs, and would soon issue an announcement.