June 22, 2022

Minister: Flour Price Increase Is Temporary, Depends On Shift In Global Trends

By Newsroom

“It’s a temporary situation.” That’s how Trade Minister Paula Gopee-Scoon described the 33% rise in the price of flour, which she reaffirmed comes as a result of higher shipping costs, global supply chain disruptions and the crisis in Ukraine.

“Both local producers have already given a commitment to adjust prices downward, in line with future market conditions,” the Minister assured while speaking in the House of Representatives on Wednesday.

Minister Gopee-Scoon further pointed out that government does not control the price of wheat, adding there are no duties or taxes attached to wheat import.

Comparing Trinidad and Tobago to other CARICOM countries, she said the price increase was significantly less.

“Most of the countries in CARICOM have increased the price of flour at least once this year however even with this increase, it is noted that flour in Trinidad and Tobago will still be on an average of 19% cheaper than other Caribbean countries,” she said, while admitting the situation was not a simple one. 

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