THE EX-FACTORY price of counter flour, processed by Jamaica Flour Mills (J.F. Mills), will go down from $680 to $665 per 45 kilogram bag as of next Tuesday.
JF Mills said yesterday that the reduction made the current price the lowest in the English-speaking Caribbean.
According the company, the move was part of its goal to become a "low cost producer" and has been possible because of a decrease in raw material costs and an increase in the company's efficiency and productivity.
"As a result of our efforts, coupled with lower wheat prices, we are able to pass on part of the savings to the Jamaican consumer," J.F. Mills' managing director, Jack Cwach, said.
A check with some supermarkets revealed that counter flour was being sold for between $16 and $24 per kilogram (2.2lb) pack and for some businesses which sold the 45 kilogram bag, it was being sold for approximately $720.
"Supermarkets said the prices were likely to go down in the wake of the coming reduction because it means that they are buying at a lower price and that hopefully, they can pass it onto consumers," Mr. Cwach told The Gleaner.
