The Eastern Caribbean Group of Companies ECGC will not see its wheat supply affected by the ongoing conflict between Ukraine and Russia, as all of their wheat supplies come from the United States.
This is according to the ECGC’s Chief Executive Officer J Robert Cato, who made the statement during an interview on WEFM this morning.
“We buy most of our wheat—we buy all of our wheat in fact, from the United States. Most of that comes out of Kansas in the United States” he said.
However he noted that their primary concern, while not a new issue, is the rising prices of wheat.
“Outside of the war, the price of wheat has been at its highest since 2008/2012. I know you hear a lot of people speaking about the price of oil now—we have been struggling with high wheat prices since July of last year.” Cato said.
ECGC’s CEO noted that this is an issue that is faced not only in St. Vincent and every other market as well.
He said that what is happening in Ukraine has added more uncertainty to this situation, saying while this may not result in a shortage of wheat, it will have an effect on the price.
Mr. Cato said that the ECGC is in constant contact with their procurement specialist and keeping their eyes close on the situation in Ukraine.
