Rice goes up from Monday

THE first major increase in food stuff for 2004 will take place next Monday with rice going up by 18 percent across the board. The decision to increase the price of rice followed a meeting yesterday among the major importers in the rice industry. These included National Flour Mills (NFM), distributor for Lotus products; JMH Enterprises Ltd, distributor for Par Excellence rice; and Waz Hosein, importer for Happi Products. However, Newsday was unable to reach the various representatives — Michael Potella (NFM), Charles James (JMH Enterprises) and Waz Hosein (Happi) for a comment on the increases. Newsday was reliably informed that the nation’s supermarkets and retail outlets have not yet been informed of the price increases. The importers plan to inform the retailers sometime today.

At present, a one-kilo pack of rice sells for $4.49; a two-kilo pack goes for $8.99; a four-kilo pack for $16.99; and a nine-kilo pack for $37.99. Happi do not have a one-kilo pack. They have an 800-gramme pack which retails for $3.99, and a 10-kilo pack for $41.99. Newsday was reliably informed that the importers decided to hold a meeting yesterday to discuss increasing the prices of rice. A source said that the importers could no longer hold out with the escalating increase in costs. The source added, “everything kept going up over the years, yet the importers of rice in Trinidad held their hand. The time has come when they can no longer hold their hand.

The importers keep absorbing the costs and bearing losses, while other foodstuffs keep going up on a yearly basis. With the ban on imported beef, the chicken producers are thinking of increasing the price of chicken. No such thing happened with rice over the years.” He continued, “the importers looked at everything before they decided to increase the price of rice. Really, there was no other alternative, at this time, than to pass on the high costs of production worldwide to the consumers.” Newsday was informed that the price of rice had not been increased for the past eight years.