Minister of Industry, Commerce and Investment, Hon. Karl Samuda has said that the marketplace will be seeing an increase in the price of flour. Speaking at a press briefing at the Knutsford Court hotel in St. Andrew recently, the minister explained that this increase stems from a dramatic increase of about 67 per cent in the world price of wheat between January and September.

He pointed out that "the shipment of flour that has just arrived and will be available to the market, has attracted an increased price of 47.5 per cent for counter flour and 28.5 per cent for baking flour."

As a result, he said, the local market will experience a 30 per cent price increase on counter flour and a 20 per cent rise in the price of baking flour.

Minister Samuda noted that in the weeks to come, the price increase for flour will also impact on the cost of baked products, animal feed and poultry.

The minister implored suppliers to sell existing stocks of flour before introducing the new price.