The National Milling Company (NAMILCO) says that it has not increased the prices of any of its products.
In advertisements in the press, NAMILCO said that it had been advised of reports circulating in the marketplace about increases in the prices of the company’s products and these had surfaced after the announcement of large hikes in the flour price in a neighbouring CARICOM country.
“The management of NAMILCO wishes to advise our loyal customers and the general public that we have not increased the prices of any of our products and ask resellers of our products to desist from increasing prices to the public. Anyone who insists on increasing prices, without justification, will risk being reported to the Consumer Affairs Division of the Ministry of Tourism, Industry and Commerce”, the advertisement warned.
NAMILCO however said that consumers could expect to see “significant increases” in the prices of imported flour because of the hikes implemented in their home markets.
On March 11 this year, NAMILCO announced a 15% increase in the price of flour.
“The price of wheat today is 40% higher than it was on February 15, 2022, just 3 weeks ago. During this period, we have also seen increases in the cost of packaging, additives, and just recently, fuel. Consequently, we can no longer sustain our operations at our current Flour Price levels,” the company stated in a press release then.