By Admin. Updated 8:34 p.m., Thursday, October 24, 2024, Atlantic Standard Time (GMT-4).
The Eastern Caribbean Group of Companies – ECGC, the OECS’ largest flour exporter announced that it has reduced the price of flour by up to 10 percent as Independence gifts across the OECS and Barbados.
In an October 24 press release, the ECGC said:
This reduction will take effect on October
25th in St. Vincent & the Grenadines and November 1st in other OECS countries and Barbados, and will see reductions from 5-10 percent.
The price reduction is expected to benefit consumers, bakeries, and businesses throughout the region, the ECGC said.
Prices across the OECS will be lowered on both bulk flour and the retail packaged flour sold in
supermarkets. ECGC will lower prices on its Cream of the lslands and CariGold 100lb bags on
average by $6 to $10 EC Dollars across its markets, the ECGC said.
Consumers will now see the retail prices drop
by an average of 10 cents per pound on the popular bagged out flour sold in their community
stores, while premium packaged brands like Easy Bake, Purity, and CariGold flour, will reflect a 30
to 90 cents decrease on the supermarket shelf, the company said.
This strategic price adjustment aligns with the independence celebrations of OECS member
states, with St. Vincent & the Grenadines celebrating on October 27th, Antigua & Barbuda on
November 1st, Dominica on November 3rd, and Barbados marks its own celebration on
November 30th.
The countries, set to benefit from the ECGC flour price reductions are, Antigua and Barbuda,
Barbados, British Virgin Islands, Dominica, Grenada, St. Lucia, St. Kitts & Nevis, St. Vincent & the Grenadines, Montserrat and Carriacou.
Production Efficiencies and Futures Markets
ECGC CEO J. Robert Cato stated that the price reduction was made possible by recent capital
investments in the business, improved efficiency, and favorable market conditions. He said, “This
reduction speaks to our commitment to communities across the OECS islands and Barbados while we continue to provide the best high-quality Flour. Lower flour prices, enhances affordability for families, promotes local businesses in the OECS, and ultimately fuels growth in our economies.”
East Caribbean Group of Companies
ECGC said it remains vigilant about global market dynamics, including geopolitical conflicts in key
wheat-producing regions. Despite these challenges, the company is committed to giving back to
the Caribbean.
ECGC CEO, J. Robert Cato added, “At ECGC, we still face inflationary headwinds around other
costs, specifically labor, energy, freight and natural disasters, yet we are very clear, that this price
reduction on ECGC Flour is the absolute right thing to do, businesses must give back to our
communities and now is a great time.”
–END–
About ECGC: Founded in 1977, ECGC is a Caribbean grown company headquartered in St. Vincent & the Grenadines. E
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