BY LAIDE AKINBOADE

ABUJA – General Manager, Golden Pasta Company, Mr. Yiannis Katshichtis, has blamed increase in food prices to unprecedented climate change across the world.

Katshictis, who stated this  at the “2011 Customer’s forum of the company, complained that the rise in cost of wheat flour, which is the company’s major raw material, contributed to the increase in the price of their product.

According to him, “the long spell of uncontrolled bush fires in Russia and Australia, to the flooding in the United States and Canada has aided the skyrocket of the price of wheat, which subsequently led to the huge rise in cost of food across the globe.

He said the price of the company’s product is dependent on the price of wheat in the international market, hinting that the company might likely increase the price of its product this year.

“Towards the last quarter of the year (2010) we have struggled to contain the price hike in wheat products including wheat flour our major raw material, but we cannot continue to cushion the effect of this hike in the prices of wheat, thus as a prolonged battle we were forced to increase the prices of our products,” he said.