Flour industry feeling the pressure of uncertainty

Concerns over raw material shortage next week

Following the imposition of capital controls and the shutdown of banks by the Greek government the economic and social life of the country is teetering. Two major Greek flour industries warned that they were fast running out of raw material to trade with their domestic partners. Fearing the worse Greeks swarmed supermarkets and food stores to stock up on basic supplies. The huge spike in demand for staple food (25-30%) by the public in conjunction with the difficulty major food industries are finding to use cash has raised concerns about their ability to cover demand next week. Shortages are becoming apparent in smaller regional stores in Macedonia, Crete and other islands.