ECGC slashes flour prices by 5-10% across OECS nations

Caribbean: The OECS countries, including Grenada, St Vincent and the Grenadines and Barbados are all set to benefit from ECGC flour price drop. The consumers of flour produced by the Eastern Caribbean Group of Companies will be enjoying a five to ten percent price reduction, benefitting families and businesses across the Caribbean region.

The company is based in St Vincent and it was founded back in 1977. They mentioned that this reduction is an independence gift to countries including Antigua and Barbuda, Barbados, Dominica, Grenada, Saint Lucia, St Kitts and Nevis, St Vincent and the Grenadines, BVI, Montserrat and Anguilla.

The CEO of ECGC, J. Robert Cato, announced the development and said that this reduction speaks to the commitment towards communities across the OECS islands. He added that lower flour prices enhance affordability for families and promote local businesses.

According to the information, the price drop started earlier this week in St Vincent and the Grenadines and will roll out on November 1 in other OECS nations and Barbados.

The company added that consumers will now see retail prices drop by an average of 10 cents per pound. They noted that prices across the OECS will be lowered on both bulk flour and the retail packaged flour sold in supermarkets. Notably, the price of a 100lb sack of flour will fall by between EC$6 and EC$10 across ECGC market.

Cato emphasized that ECGC remains committed to supporting the Caribbean even as they face inflationary pressures. He outlined that now is a great time for businesses to give back to the communities. 

According to him, the company is still facing inflationary headwinds around other costs, especially energy, labour, freight and natural disasters but the company remains very clear that this price reduction on ECGC flour is the absolute right thing to do and now is a great time to do it.

The ECGC added that the price reduction is anticipated to benefit consumers, bakeries as well as businesses across the region. They added that the prices will be reduced on both flour as well as the retail packaged flour which is sold in supermarkets. 

With this announcement, the locals across the OECS nations expressed their happiness over the development with one saying, "It's about time. The war in Ukraine increased the price of everything and the prices never returned to normal. Business places are always quick to raise prices but never drop price when the raw materials prices returns to normal."

Another user noted, "Other things need dropping also, such as prices being too high in this country."