Prices steady as input costs rise

President of the Barbados Agricultural Society (BAS) James Paul is giving Barbadians the assurance that his organisation will be working with farmers to try and keep prices down on meat products, even though input costs are rising.

He said the cost of corn was threatening to drive up feed costs locally, which could in turn result in higher prices to consumers.

With the grains used in the making of animal feeds in Barbados being imported, Paul said it was high time that they were grown in Guyana and Suriname to help reduce costs.

His comments came as he spoke with reporters on Thursday, during a press conference at his BAS Beckles Road, St Michael headquarters.

The cost of corn per bushel has doubled over the past year, peaking at around US$7.70 in May before slipping slightly to around $7 over the past month and a half.

“We were wondering what impact it would have on the local feed. I want to say again on behalf of the farmers of this country and the BAS thanks to the government of Barbados for the fact that they provided the necessary support to our sole feed manufacturer. And they have been able to hold the price of feed and we expect that will continue hopefully until the end of this month. But we do not know beyond the end of this month what is likely to happen,” said Paul.

Stating that it seemed like “a new normal” was developing when it came to the price of corn, Paul said this could pose a challenge for the local market, which does not produce the item in bulk to make the animal feed.

However, he promised that the BAS would be working closely with farmers to “develop strategies” to help farmers cope.

“There are some things we are going to do on the farms that will relate to efficiencies so that they are better able to compete in the current market. We think that this is how we will be able to withstand the pressure of that increase in the price of corn,” he said.

Opting not to say how soon prices could increase if feed prices continue to rise, Paul said it was difficult for Barbados to escape price increases on the world stage because most inputs are imported.

He renewed his call for CARICOM neighbours Guyana and Suriname to grow crops that were not being produced in Barbados to help cut costs.

“For instance, they should be growing the corn and soya that we use and help to increase the supply of corn and soya around the world,” said Paul.

“This is where again, at the level of CARICOM, our leaders need to show more foresight in terms of saying to Guyana and Suriname, ‘stop trying to send here the things that we grow. Send here the things that we don’t grow’. For instance, if our local feed mill can make an arrangement to be able to buy corn or soya that is produced in Guyana that will help,” he explained. (marlonmadden@barbadostoday.bb)