Consumers have been advised to brace for an increase in flour prices starting next year. The measure which was officially announced by National Flour Mills, earlier today, December 29, will begin on Monday, January 3.

In a statement, NFM explained that it could no longer maintain prices in the face of rising international wheat prices and shipping cost increases due to the ongoing COVID-19 pandemic. As such, the price of wholesale flour will be increased by between 15 per cent and 22 per cent with a suggested increase averaging 19 per cent on the retail price of flour to the consumer.

The company also stated that its flour prices have remained the same since 2008. According to the company’s CEO, Ian Mitchell, “we did everything within our control to try to hold our prices; but with the staggering increases in raw material and shipping costs, we were left with no choice but to make the adjustment. We are acutely aware of the knock-on effect that an increase in the price of flour could have in the market, but we cannot sell a product for less than it costs to produce.”