Consumers to suffer more with food price increase

The consumer’s agony will deepen even further, with families having to fork out much more after Namib Mills announced not only price increases on staple foods, but also on poultry products.The company last week announced an increase on wheat, flour, pasta, bread, rice, maize meal, instant maize porridge and sugar as from 25 April. The ongoing war between Russia and Ukraine has amplified the already increasing global food and energy costs, it said.“Even before the Russian army crossed into Ukraine, food prices had been on the rise for the past year. But the world has seen large jumps in the cost of food over the last two months.”It said a variety of factors caused the price increases, including transportation costs, supply chain distribution and rising commodity prices such as heat and maize.Cough upMaize meal will increase by 3%, instant maize porridge by 3.5%, Polana Pasta by 3%, Pasta King by 5%, wheat flour as well as Compete Mix by 6%, bread by 3.5%, rice by 4% and sugar by 3%, it said.Meanwhile, the increase on poultry products – by 3% - is due to Russia-Ukraine conflict.Namib Mills explained that the cost of grain commodities has increased significantly over the last 12 months, specifically yellow maize and soya beans. The cost of soybeans has increased by 39% over the last 12 months, of which 35% has been in the last three months. It said yellow maize has increased 38% over the same period, 18% being the increase in the previous three months. “To date, these cost increases have been absorbed.”

Consumers to suffer more with food price increase

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Namibian Sun 2025-03-17

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Consumers to suffer more with food price increase

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Namibian Sun 2025-03-17

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