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After drop in cost of flour ...
PM questions why bread, doubles prices aren’t going down
https://www.guardian.co.tt/news/pm-questions-why-bread-doubles-prices-arent-going-down-6.2.1750609.f73837a9e3
While some bakeries, roti shops and doubles vendors are unwilling to lower their food prices after three major flour producers cut the cost of flour, Prime Minister Dr Keith Rowley is questioning their reasoning.
Responding to a Guardian Media article where business owners said the decrease was not enough to allow them to drop the prices of bread, pastries and Indo-Trinidadian delicacies, Rowley asked, “So a higher flour price was enough to see an instant rise in the price of bread but a lower flour price is not enough to lower the price of doubles and bread?”
Rowley posted this question on his Facebook timeline with a photograph of the article. There were some mixed reviews. Some agreed with his concern, while others expressed that Government had no price control. One commenter questioned why fuel prices did not decrease when oil prices declined.
Flour producers increased their prices a year ago as freight costs soared during the COVID-19 pandemic, and the availability of wheat became a concern as the Russia/Ukraine war raged on. It led to restaurants and eateries increasing their prices. In the article, Puff ‘N Stuff owner Gregory Laing explained that bakeries had to pay more for fuel, butter, cooking oil, packaging, and repairs and maintenance services. Laing said the price decreases were not significant enough to rival the 40-65 per cent increase in raw material costs bakeries endured over the last three years. Doubles vendors in Debe and Penal had similar responses.
But speaking to Guardian Media yesterday, President of the Greater San Fernando Area Chamber of Commerce Kiran Singh said producers lowering flour prices was a step in the right direction as it should benefit consumers.
However, Singh said they have not yet seen the new prices on the supermarket shelves. He said with the pandemic over, there are significant decreases in shipping costs. Therefore, Singh said he expected the prices of all imports to decrease. He empathised with food businesses, saying that the chamber expected a larger decrease in the retail price of flour.
Meanwhile, the cost of cooking oil remains high.
“We were expecting to see a general decrease in everything that we import because if the shipping cost went back down to $3000-$5000 average on a container when it was close to $15,000 some time ago, we should automatically see a decrease in food items, hardware and everything we import, even vehicles. We are seeing the opposite where prices have remained at the higher plateau, and we are not seeing a reduction in the prices. It is very worrying for the consumer,” Singh said.
As for bakeries and doubles vendors reducing prices, Singh said while people believe businesses should do so, other ingredients besides flour recently increased.
He said the Ministry of Trade and Industry should meet with producers, importers and business organisations to discuss why there is no reduction in food items, given lower shipping costs.
maj. tom wrote:After drop in cost of flour ...
PM questions why bread, doubles prices aren’t going down
https://www.guardian.co.tt/news/pm-questions-why-bread-doubles-prices-arent-going-down-6.2.1750609.f73837a9e3
While some bakeries, roti shops and doubles vendors are unwilling to lower their food prices after three major flour producers cut the cost of flour, Prime Minister Dr Keith Rowley is questioning their reasoning.
Responding to a Guardian Media article where business owners said the decrease was not enough to allow them to drop the prices of bread, pastries and Indo-Trinidadian delicacies, Rowley asked, “So a higher flour price was enough to see an instant rise in the price of bread but a lower flour price is not enough to lower the price of doubles and bread?”
Rowley posted this question on his Facebook timeline with a photograph of the article. There were some mixed reviews. Some agreed with his concern, while others expressed that Government had no price control. One commenter questioned why fuel prices did not decrease when oil prices declined.
Flour producers increased their prices a year ago as freight costs soared during the COVID-19 pandemic, and the availability of wheat became a concern as the Russia/Ukraine war raged on. It led to restaurants and eateries increasing their prices. In the article, Puff ‘N Stuff owner Gregory Laing explained that bakeries had to pay more for fuel, butter, cooking oil, packaging, and repairs and maintenance services. Laing said the price decreases were not significant enough to rival the 40-65 per cent increase in raw material costs bakeries endured over the last three years. Doubles vendors in Debe and Penal had similar responses.
But speaking to Guardian Media yesterday, President of the Greater San Fernando Area Chamber of Commerce Kiran Singh said producers lowering flour prices was a step in the right direction as it should benefit consumers.
However, Singh said they have not yet seen the new prices on the supermarket shelves. He said with the pandemic over, there are significant decreases in shipping costs. Therefore, Singh said he expected the prices of all imports to decrease. He empathised with food businesses, saying that the chamber expected a larger decrease in the retail price of flour.
Meanwhile, the cost of cooking oil remains high.
“We were expecting to see a general decrease in everything that we import because if the shipping cost went back down to $3000-$5000 average on a container when it was close to $15,000 some time ago, we should automatically see a decrease in food items, hardware and everything we import, even vehicles. We are seeing the opposite where prices have remained at the higher plateau, and we are not seeing a reduction in the prices. It is very worrying for the consumer,” Singh said.
As for bakeries and doubles vendors reducing prices, Singh said while people believe businesses should do so, other ingredients besides flour recently increased.
He said the Ministry of Trade and Industry should meet with producers, importers and business organisations to discuss why there is no reduction in food items, given lower shipping costs.
That last part. I said before that unless there is government regulation on basic food items, the free market capitalism reigns and then eventually spins out of control with greedflation and the majority of consumers lose out. It has happened and been happening in every country since Covid ended.
death365 wrote:so yuh friendly neighborhood doubl;es/pie man price going down too $5 doubles back soon then ?
MaxPower wrote:death365 wrote:so yuh friendly neighborhood doubl;es/pie man price going down too $5 doubles back soon then ?
$5 wey
Dem doubles ppl only care about themselves and always looking for every lil ting to raise their prices.
People should stop buying doubles, see how fast they lower the price.
Buh look I stop buying and dem eh lower nathnMaxPower wrote:death365 wrote:so yuh friendly neighborhood doubl;es/pie man price going down too $5 doubles back soon then ?
$5 wey
Dem doubles ppl only care about themselves and always looking for every lil ting to raise their prices.
People should stop buying doubles, see how fast they lower the price.
pugboy wrote:doubles is the national dish yo
doh be bad talking them so
ent first ting allyuh does ask foreigners is if they had doubles?
pugboy wrote:it’s a pseudo racist jab by him at the doubles vendors
MaxPower wrote:pugboy wrote:doubles is the national dish yo
doh be bad talking them so
ent first ting allyuh does ask foreigners is if they had doubles?
Nope,
The first thing is i ask if they feel safe. I also apologize for the littering and crime rate.
India’s ban on rice exports raises fear of global food price rises
India has banned non-basmati white rice exports to curb domestic inflation, raising fears of further increases in global food prices just days after wheat and corn prices were sent climbing by Russia’s termination of a key grain deal.
The immediate ban, introduced after heavy rains hit domestic crops, follows the failure of a 20% duty on international exports introduced in September to curb foreign demand, which has soared after extreme climate conditions hit production in countries.
https://www.theguardian.com/business/2023/jul/21/india-ban-on-rice-exports-raises-fear-of-global-food-price-rises
Russia’s failure to extend the Black Sea Grain Deal has pushed corn and wheat prices higher.
triniringo wrote:Potatoes are now $4 per lbs
pugboy wrote:massy orange grove
2 for 1 big block butter emerald irish brand $62
eliteauto wrote:pugboy wrote:massy orange grove
2 for 1 big block butter emerald irish brand $62
Unsalted?
triniringo wrote:Potatoes are now $4 per lbs
pugboy wrote:massy orange grove
2 for 1 big block butter emerald irish brand $62
bluefete wrote:triniringo wrote:Potatoes are now $4 per lbs
Where were you buying potatoes before?
$7.00 / lb in Tunapuna market on Sunday. I just watch it and smile and walk away.
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