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Trade minister: No flour price increase on the cards

Tuesday, December 5, 2017

Minister of Trade and Industry Paula Gopee-Sccon was assured by NFM officials yesterday that there are no plans for an immediate increase in the price of flour.

The meeting, which comes of the heels of statements made by company CEO Kelvin Mahabir last week suggesting possible price increases was attended by NFM chairman Nigel Romano and Mahabir, and was scheduled to discuss factors affecting potential increases in the price of flour.

According to a release from the Ministry yesterday, "the Trade Minister stressed the importance of the company controlling its operating costs in flour production andother areas of business."

The release added, "The chairman of NFM informed 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."

At the meeting, the NFM executives informed the minister of the various initiatives currently being undertaken by the company to improve productivity, quality management, process efficiencies and employee welfare.

The release stated that NFM gave the "committment to engage the ministry more frequently on strategic matters" and to continue working with the government to support efforts at export diversification