Grenadians to pay more for flour, animal feed from March 21st

From Monday, March 21st, Grenadians will be paying more for flour and animal feed.

The increase comes following an announcement from Caribbean Agro Industries of a price hike that will range between 12% and 16%.

According to a notice from the company, baking flour will go up by 12%, counter flour by 14%, and animal feed by 16%.

It says the increases in prices of their products are significantly below many of the price increases of production inputs.

Just days ago, Permanent Secretary in the Ministry of Finance, Mike Sylvester, informed Grenadians that a shortage of supplies on the international market is resulting in an upsurge in the prices of goods such as wheat, corn, and soybeans.

Minister Sylvester said “we have seen the price of a bushel of wheat for example increase from US$800 plus dollars to US$1200 in March and there are continuing pressures on those prices including from what is considered as shortages”.

“Like fuel, these prices will reach us, we are price takers, who have no influence on how these prices go, we have no way to determine how these prices go…We do expect to see a significant increase in these prices domestically,” he said.

Grenada imports about US$6 million in wheat products every year from the United States.

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