Question 1:
Are the grains used in production imported or domestically produced? If imported, what percentage is imported and from where are these grains imported?
Answer 1:
100% of our grains (bran additives, wheat, corn) are imported, primarily from suppliers in the United States of America. Local rice however is supplied by our local farmers.
Question 2:
What is the domestic market share in the flour market?
Answer 2:
NFM enjoys a market share of approximately 70% in the domestic flour market.
Question 3:
Who are your competitors in the domestic flour market?
Answer 3:
In Trinidad and Tobago there is one other flour mill which competes with NFM in the flour market. On a smaller scale, there are also imported brands of flour on the T&T market.
Question 4:
What type of market does NFM operate in?
Answer 4:
For most of its products, National Flour Mills Limited operates in Oligopoly markets.
Question 5:
Is there surplus demand for or supply of NFM products?
Answer 5:
This answer is threefold:
- In the local market, especially for flour and feed, supply is greater than demand;
- In regional export markets, especially for feed, supply is also greater than demand;
- In the international export market however, supply equals demand.
Question 6:
On what factors are output based?
Answer 6:
Output is based on seasonal demand to a great extent and economies of scale and labour to a lesser extent.
Question 7:
How are prices determined?
Answer 7:
For most products, National Flour Mills Limited employs market pricing and considers production costs when pricing final product.
Question 8:
How does NFM contribute to the economic welfare of the country?
Answer 8:
In terms of economic contribution, we employ a large labour force, contribute to the Gross Domestic Product (GDP) and train both skilled and unskilled workers.
Question 9:
What future linkages exist for NFM?
Answer 9:
Potential linkages exist for National Flour Mills Limited as a result of the free trade which allows the global market to be more accessible. Additionally, NFM will be able to indulge in further export activities with foreign customers.
Question 10:
How are conflicts resolved?
Answer 10:
Conflicts are resolved through NFM’s Corrective Action Policy. Because the company operates in a unionized environment, mediation is used in the initial stages, but it can be taken as far as the Industrial Court. Conflicts however are usually settled internally.
Question 11:
What communication methods are used?
Answer 11:
NFM utilizes both internal and external communication tools:
Internal – notice boards, intranet, email, company and departmental meetings, bulletins and newsletters.
External – press releases, advertising and Company’s Website.
Question 12:
What laws affect Health and Safety in the workplace?
Answer 12:
The Occupational Safety and Health Act 2004 as amended in 2006 and the Environmental Management Act 2000 set guidelines for companies to follow. NFM actively engages in the:
- Education of employees on safety regulations through training, Tool Box meetings and Departmental meetings;
- Importance of the provision of safety facilities which would aid in the protection of employees, the environment and the company;
- Procedures to deal with safety complaints through investigating and implementing corrective action by administrative or engineering controls.
Question 13:
What are the impacts of trade liberalization and globalization?
Answer 13:
Trade liberalization and globalization increase the potential market for NFM’s product, increase the availability of raw materials at lower costs and also increase NFM’s competition.
Question 14:
How are employees motivated?
Answer 14:
We motivate employees by providing training programmes to enhance their skills; competitive salaries; employee share ownership programmes, employee participation in various committees and the hosting of employee events.
Question 1:
Are the grains used in production imported or domestically produced? If imported, what percentage is imported and from where are these grains imported?
Answer 1:
100% of our grains (bran additives, wheat, corn) are imported, primarily from suppliers in the United States of America. Local rice however is supplied by our local farmers.
Question 2:
What is the domestic market share in the flour market?
Answer 2:
NFM enjoys a market share of approximately 70% in the domestic flour market.
Question 3:
Who are your competitors in the domestic flour market?
Answer 3:
In Trinidad and Tobago there is one other flour mill which competes with NFM in the flour market. On a smaller scale, there are also imported brands of flour on the T&T market.
Question 4:
What type of market does NFM operate in?
Answer 4:
For most of its products, National Flour Mills Limited operates in Oligopoly markets.
Question 5:
Is there surplus demand for or supply of NFM products?
Answer 5:
This answer is threefold:
- In the local market, especially for flour and feed, supply is greater than demand;
- In regional export markets, especially for feed, supply is also greater than demand;
- In the international export market however, supply equals demand.
Question 6:
On what factors are output based?
Answer 6:
Output is based on seasonal demand to a great extent and economies of scale and labour to a lesser extent.
Question 7:
How are prices determined?
Answer 7:
For most products, National Flour Mills Limited employs market pricing and considers production costs when pricing final product.
Question 8:
How does NFM contribute to the economic welfare of the country?
Answer 8:
In terms of economic contribution, we employ a large labour force, contribute to the Gross Domestic Product (GDP) and train both skilled and unskilled workers.
Question 9:
What future linkages exist for NFM?
Answer 9:
Potential linkages exist for National Flour Mills Limited as a result of the free trade which allows the global market to be more accessible. Additionally, NFM will be able to indulge in further export activities with foreign customers.
Question 10:
How are conflicts resolved?
Answer 10:
Conflicts are resolved through NFM’s Corrective Action Policy. Because the company operates in a unionized environment, mediation is used in the initial stages, but it can be taken as far as the Industrial Court. Conflicts however are usually settled internally.
Question 11:
What communication methods are used?
Answer 11:
NFM utilizes both internal and external communication tools:
Internal – notice boards, intranet, email, company and departmental meetings, bulletins and newsletters.
External – press releases, advertising and Company’s Website.
Question 12:
What laws affect Health and Safety in the workplace?
Answer 12:
The Occupational Safety and Health Act 2004 as amended in 2006 and the Environmental Management Act 2000 set guidelines for companies to follow. NFM actively engages in the:
- Education of employees on safety regulations through training, Tool Box meetings and Departmental meetings;
- Importance of the provision of safety facilities which would aid in the protection of employees, the environment and the company;
- Procedures to deal with safety complaints through investigating and implementing corrective action by administrative or engineering controls.
Question 13:
What are the impacts of trade liberalization and globalization?
Answer 13:
Trade liberalization and globalization increase the potential market for NFM’s product, increase the availability of raw materials at lower costs and also increase NFM’s competition.
Question 14:
How are employees motivated?
Answer 14:
We motivate employees by providing training programmes to enhance their skills; competitive salaries; employee share ownership programmes, employee participation in various committees and the hosting of employee events.