Latest update November 26th, 2024 1:00 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Bread prices to be reduced from today

Nov 26, 2008 News

– Bakewell

Chief Executive Officer (CEO) of Bakewell, Naeem Nazir, has said that his company should be reducing the price of bread from today. In an invited comment to this newspaper yesterday, Mr. Nazir said that the company is currently working to make the changes in its computer system.
However, he explained that he could not say at what new price bread would be retailed, but he assured that it would be reasonable.
It has been over one week since the National Milling Company (NAMILCO) announced a 17 percent reduction in the price of flour, and bakers at a recent meeting with Commerce Minister Manniram Prashad had promised to reduce the price for bread and other flour products within a week.
The bakers had argued that they buy flour in bulk, and as such, it would not be fair to them to reduce the price for bread and other related products instantly, because this would affect their profit margin.
Nazir had told Kaieteur News that many logistical changes have to be made.
Last week, NAMILCO announced the reduction of the price of flour by an overall 17 percent on 45-kg bags, and indicated that there would be a consequential reduction in packets.
The reason for the reduction was due to the reduced price for wheat on the international market.
It was explained that the decreased percentage was calculated using the increased prices at May 5 last versus the new prices. Most bakers would therefore benefit from a $1,280 reduction per bag of flour.
Consumers are also benefiting from a reduction of $20 per kg on Thunderbolt packet flour. The wholesale price for a bag of Thunderbolt flour is now $6,175, while the retail price is $6,220.
Earlier in the year, the prices were $7,390 and $7,500 respectively.

Similar Articles

The Glenn Lall Show | November, 20th, 2024

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Rutherford gets big payday from Gujarat Titans at IPL 2025 Mega Auction; Shepherd, Powell snapped up by RCB and KKR, respectively

Rutherford gets big payday from Gujarat Titans at IPL 2025 Mega...

Nov 26, 2024

  SportsMax – Guyanese hard-hitting left hander Sherfane Rutherford will get the opportunity to shine on T20 franchise cricket’s biggest stage once again after being picked up by the...
Read More
Roach and Seales star as West Indies close in on Antigua Test victory

Roach and Seales star as West Indies close in on...

Nov 26, 2024

Delroy Tyrrell continues to excel at Oneonta State University

Delroy Tyrrell continues to excel at Oneonta...

Nov 26, 2024

Ramdass Royals Crowned Champions of the Inaugural Windies Masters Cricket Extravaganza

Ramdass Royals Crowned Champions of the Inaugural...

Nov 26, 2024

KFC Guyana distance self from delayed payment of GFF Elite League prizes

KFC Guyana distance self from delayed payment of...

Nov 26, 2024

Ravens and Royals ready for epic Elite 16 final showdown

Ravens and Royals ready for epic Elite 16 final...

Nov 26, 2024

Features/Columnists

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]