No price increase on flour... yet

Tuesday, December 5, 2017 - 05:45

The Minister of Trade and Industry, Paula Gopee-Scoon is assuring the country public that there will be no immediate increase in the price of flour.

Yesterday the minister met with National Flour Mills limited officials yesterday.

The trade minister stressed the importance of the company controlling its operating costs in flour production and other areas of business.

She raised the issue of the pricing of the main types of wheat which represents a major ingredient in the production of flour.

The company was urged to adopt procurement practices which beneficially hedged against increases in prices.

The chairman of NFM assured the minister that the company will exhaust all available avenues to manage its operating costs and that any adjustment in prices will be an absolute last resort.

NFM assured the minister that the various initiatives currently being undertaken by the company will improve productivity, quality management, process efficiencies and employee welfare.

These included modification of the feed mill, automation of plant systems, acquisition of new equipment and machinery for the dry mix operation and employee training programmes.

The chairman indicated that the board of directors and management of NFM have been working assiduously to develop strategies to diversify its revenues streams from its other product segments.