Linda’s Bakery is raising the price of “select pastries” by $1.
A statement from the company said this is as a result of the second increase in the price of flour earlier this year by the National Flour Mills (NFM).
Linda’s did not specify which pastries would increase in price but said it has been faced with increased pricing pressure since the second flour price hike.
“Linda’s has engaged with its core stakeholders over the last several weeks to determine how best to navigate the environment with as little burden on consumers.
“We have monitored and observed the recent and sustained decrease in wheat prices from its highs and given NFM’s recent commitment to no further price increase for the year, have decided to maintain all of its bread prices at current levels,” the statement said.
The company added it will continue to closely monitor local and international material prices and make every effort to limit impact on customers.
In June, the NFM announced a 33 per cent increase in the wholesale price of flour, with a suggested increase averaging 28 per cent on the retail price of flour.
The NFM said while it has been able to secure sufficient wheat stocks to guarantee T&T has an adequate supply of flour for the remainder of 2022, the cost of wheat to NFM has increased by a further 49 per cent 2022, due to the ongoing war in Ukraine.
The company added to reduce losses in its flour division, it had to increase its flour prices.