Kiss Baking Company, one of the leading brands of breads, cakes and pastries in Trinidad and Tobago, announced on Monday an increase in the price of its bread products.
The company said this happened because raw material prices have escalated by as much as 30 per cent. It also said it is experiencing increases in shipping costs as a result of continuous strains on the supply chain worldwide because of covid19.
In a release Kiss said despite attempts to save on costs, prices of several bread products have gone up.
“While we have been able to maintain the prices of our core bread products such as sandwich loaves, butter bread and hops, unfortunately we are forced to increase the price on a few others.”
Kiss said its grain loaf, which was $16.75, is now $17. Its hot dog buns, which were $10.50, have gone up to $11.00, and its jumbo hot dog buns, which were $14, are now $14.50.
Linda’s Bakery owner Peter George told Newsday that for now, his prices are holding.
However, he said the company is also experiencing hikes in the price of raw materials which could eventually see prices increase as well.
“Input costs continue to increase, so it will be inevitable to reach this position. Because of the demand for raw materials worldwide and shipping costs going up because of covid19, there is not much that could be done.”
George added TT may be subject to even more price increases because the majority of food TT consumes is imported.