Irish miller warns of hefty increase in its flour prices

24 August, 2007
Page 12 
Irish miller Odlums has indicated that its flour prices will increase by over E90 (£61) a tonne.
Odlums said it would aim to keep prices to a minimum, but added that the cost of raw mate- rials had surged.The company said that, with the global harvest season well under way, it is already clear that prices worldwide for the 2007 crop will be significantly higher than for the previous year."Shoppers will be hit by these prices, as wheat crops will increase in price by at least 30%", it said in a statement.This comes at a time when demand continues to grow and global stocks of wheat are at their lowest level since the 1960s, falling from 125m tonnes to a current level of 111m tonnes, it said. Earlier this month, Irish food group Origin Enterprises paid €35m to acquire the 50% shareholding of Odlums previously owned by Greencore.



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