Feed prices go up; meat prices to follow

Barbadians could be paying more for meat from early next year, after the island’s lone animal feed manufacturer, Pinnacle Feeds Limited, increased prices on Monday.

The hike came as price support from Government to help keep costs down, expired. However, Director of Roberts Manufacturing and Pinnacle Feeds Jason Sambrano said the increase would not affect meat prices this Christmas.

In a statement on Monday, he said the temporary support given to the livestock industry had helped delay the feed price adjustment that is required due to the continued elevated price of grains on the world market.

“The price adjustment will now take effect from Monday 20th December 2021, with the subsequent meat price adjustment to follow in early 2022,” Sambrano said.

“We are grateful for the work done by both the Minister and the team at the Ministry of Agriculture to ensure Barbadians are spared an adjustment during the Christmas Season.”

He added that Pinnacle Feeds would continue to work with the livestock industry “to ensure we bring a certain level of food security to the island”.

The price hike was initially to take effect on December 1, with Sambrano saying then that it would increase by an average 3.7 per cent, as opposed to the previous 8.9 per cent back in August.

However, it was delayed following the intervention of Minister of Agriculture and Food Security Indar Weir.

Government had initially invested $2 million in price support in May to cover three months and then extended that subsidy for another three months ending on November 30.
(AH)