Kremi lifts ice cream prices 5% after rising costs and hurricane disruption

Caribbean Cream Limited, the company behind the Kremi ice cream brand, says it has increased prices across its product line by an average 5.0 per cent this month as expenses continue to climb.

"There are question marks about transportation and shipping costs, and all our raw materials prices are up. This will force us to do a price increase, which will come online on June 1st (DEL)," CEO Christopher Clarke said in an interview with the Financial Gleaner.

Clarke linked the pressure on the business to fighting in the Middle East, saying the conflict has been feeding through to international freight and commodity markets. "Uncertainty does not help," he said.

For the financial year ended February 2026, Caribbean Cream recorded a net loss of about $96 million, reversing the $18 million profit posted the year before. Revenue slipped 0.7 per cent, moving to $2.97 billion from $2.99 billion.

The company also faced disruption last October when Hurricane Melissa damaged its Montego Bay depot and caused sales to stop for a short period. "We had zero sales for about a week, and we had to support employees who were hardest affected by the hurricane," Clarke said, noting that business activity mostly returned to "normal" by Christmas.

During the year, Caribbean Cream also brought a commissioned water well fully into service. The company says the well has removed its National Water Commission bill and is saving an average $2 million each month. The related well assets are carried in the accounts at $39.5 million.