Cabinet has denied the request to increase the price for the 16-ounce sliced bread “at this time,” the government announced today.
Cabinet reviewed the submission by the Minister of Agriculture, Food Security, and Enterprise Jose Mai for an adjustment to the control price of 16-ounce sliced bread; however, the Government has denied enacting a price increase at this time.
The Cabinet brief informed that the government has instructed Minster Mai to engage with the Association of Bakers to explore other alternatives to minimize the possibility of drastic increases in the price of this staple good.
While the cost of packed bread will not see a price rise at this time, other goods have already increased. Numerous bakeries confirmed to The Reporter that due to the increase in their cost to produce baked items, they were left with no choice but to increase the cost of their products.
Some of the main components that feed the production of flour-based products are items like shortening, the cost of packaging materials, the price of LPG to bake said items, and the cost of delivering items to retailers and customers – all of which have seen considerable price increases over the past few months.
Notably, in an earlier report, The Caribbean Millers Association (CMA), anticipating a 40% increase in the cost of producing flour, noted that "The high cost of producing flour is unsustainable by any manufacturing entity and, therefore, must be ultimately passed on in some measure to the consumers."