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<span style="font-weight: bold">News Source: OTGNR - </span>
<span style="font-weight: bold"> Confirmed : Price of baked produ...w days (RJR)...</span>
Consumers are being told to brace for a significant increase in the prices of baked products within a matter of days. The warning from the Bakers Association of Jamaica (BAJ) comes as the Jamaica Flour Mills prepares to adjust its prices. The association says its members will not be able to absorb what is expected to be double digit increases and will have to pass them on to their customers. Domino effectPresident of the BAJ, Audrey Lecky, said that shortly after the price of flour goes up, consumers will see it reflected in the cost of baked goods. "The cost of baked products is certainly going to go up. There is absolutely no way in which we as bakers will be able to absorb this increase. It's quite significant with 13% on counter flour and 11.5% on bakery flour," she said. Last week it was reported that the Jamaica Flour Mills was getting ready to adjust the cost of flour as global commodity prices continue to rise.The company said it was due to the hike in the price of wheat from which flour is processed.When contacted on Sunday night the Managing Director of Jamaica Flour Mills, Derrick Nembhard, confirmed that his company is reviewing its prices and there will be an adjustment next month. Bad timingAnd the Bakers Association of Jamaica says the impending increase in the cost of flour has come at a bad time for the industry.Mrs. Lecky says bakeries are already struggling with a rise in the cost of other inputs as well as operational expenses."It's also going to impact bakers because they will also have to find an additional amount of money to purchase flour in short order.""So the entire baking industry is going to be affected because I am sure that there are other inputs for which the prices have increased since our last price increase so we have been under pressure.""And remember at all times gas oil, which we use for baking, the price of that has been increasing continuously overtime," Ms. Lecky said.
<span style="font-weight: bold"> Confirmed : Price of baked produ...w days (RJR)...</span>
Consumers are being told to brace for a significant increase in the prices of baked products within a matter of days. The warning from the Bakers Association of Jamaica (BAJ) comes as the Jamaica Flour Mills prepares to adjust its prices. The association says its members will not be able to absorb what is expected to be double digit increases and will have to pass them on to their customers. Domino effectPresident of the BAJ, Audrey Lecky, said that shortly after the price of flour goes up, consumers will see it reflected in the cost of baked goods. "The cost of baked products is certainly going to go up. There is absolutely no way in which we as bakers will be able to absorb this increase. It's quite significant with 13% on counter flour and 11.5% on bakery flour," she said. Last week it was reported that the Jamaica Flour Mills was getting ready to adjust the cost of flour as global commodity prices continue to rise.The company said it was due to the hike in the price of wheat from which flour is processed.When contacted on Sunday night the Managing Director of Jamaica Flour Mills, Derrick Nembhard, confirmed that his company is reviewing its prices and there will be an adjustment next month. Bad timingAnd the Bakers Association of Jamaica says the impending increase in the cost of flour has come at a bad time for the industry.Mrs. Lecky says bakeries are already struggling with a rise in the cost of other inputs as well as operational expenses."It's also going to impact bakers because they will also have to find an additional amount of money to purchase flour in short order.""So the entire baking industry is going to be affected because I am sure that there are other inputs for which the prices have increased since our last price increase so we have been under pressure.""And remember at all times gas oil, which we use for baking, the price of that has been increasing continuously overtime," Ms. Lecky said.