The Ministry of Trade and Industry (MTI) has stepped in to try and help consumers deal with the expected price hike in flour. 

As such, through negotiation, they have been able to bring the price hike down to consumers. According to a statement from the MTI:

“Based on discussions between the Ministry of Trade and Industry and NFM earlier today, NFM has reviewed the proposed price increase for Hibiscus Flour, the brand that is used by significant segments of the population, and agreed to reduce the increase of all sizes of this item from 19% to 10%. NFM has also agreed to limit the increase in the retail price of Ibis Flour, its flagship brand, to 17% down from 19%.”

The Ministry also noted that it urged the Board and Management of NFM to continue pursuing internal initiatives to improve operating efficiency and reduce processing costs in an attempt to further contain expenditure.