Two major bread companies –Kiss Baking Co Ltd and Linda’s Bakery – have held their hands on increasing their products pending a review of cost after the announcement of flour-price increases.
In a statement on Wednesday afternoon, Kiss general manager Rene De Gannes said, “We cannot say just yet. We are currently reviewing all our costs, in light of the increase.
"What we can say at this time is that we (at Kiss) are committed to doing everything practical to minimise the unavoidable impact that the increase in the price of flour will have on our prices and, by extension, on our customers. These cost increases are being driven by extraordinary circumstances, and we will seek to reduce the effect of this on households.”
Owner of Linda’s Bakery Peter George told Newsday the chain's prices will not increase immediately, as the stock in hand will be able to provide supplies in the short term.
He saidbread would be mostly affected. He was unable to say by how much or by when but said he would be better able to give a decision by month-end.
“In the immediate short term, that is, you are not going to go to Linda’s and find the prices have gone up. But between now and the end of the month, we are going to have to try and understand what the actual real impact is.
“It will impact bread significantly, pastry probably less so, because about 70-75 per cent of the bread is flour.”
George said the price increase was not unexpected. He added that from conversations with international partners, it seems the situation may get worse in the coming months.
On Wednesday, NFM's flour-price increase of 33 per cent, with a suggested 28 per cent retail increase, came into effect. From Monday Nutrimix will roll out a ten-33 per cent increase.
This is the second price increase since January. Both companies have cited challenges in the international wheat market as a result of the Russia-Ukraine conflict, bad weather and high shippingcosts.
The post Bread prices stay the same for now appeared first on Trinidad and Tobago Newsday.
