(Trinidad Guardian) Just under a year after it bucked the trend on flour price increases, Nutrimix is once again announcing a reduction in the prices of its flour products.
In a news release on Friday, Nutrimix said, “As a leading food manufacturer, we are committed to providing our customers with affordable and high-quality products. To this end, we regularly assess our raw material and shipping costs, as well as other expenses related to the production of our products.”
The release added, “Effective immediately, we have reduced the prices of our Country Pride and Nutrimix Premium Grade 2 kilogramme (kg) and 10kg range of flour. Our Country Pride 2kg and 10kg Bakers flour are now reduced by 17 per cent, 2 kg All-Purpose by 8 per cent, and 10kg by 13 per cent. Both 2kg Cake and Whole Wheat flour are reduced by 5 per cent. Our Nutrimix Premium Grade flour, 2kg and 10kg, are reduced by 9 per cent and 10 per cent, respectively.”
Nutrimix said the reduction is due to several factors, including the global decrease in wheat prices and shipping costs, as well as the company’s improved internal systems, controls, and initiatives to increase the efficiency of our operations while reducing milling and processing costs.
The announcement comes 10 months after Nutrimix announced a price reduction in July 2023.
Nutrimix’s announcement of a reduction was swiftly followed by competitors Sheik Lisha Ltd and state-owned National Flour Mills also announcing reduced prices for their flour products last year.
Prior to that, flour had consistently increased in cost following pressures placed on grain and other materials for production as a result of the Russia-Ukraine conflict.
NFM raised flour prices in December 2021 and June 2022, citing these supply chain issues prompted by the war, with other suppliers following suit. This led to an increase of several flour-based food items, including bread, roti and doubles. Despite the drop in the price of flour, the producers of most of these items have not dropped their prices.
