Paul says feed price hikes inevitable

By Shamar Blunt

Chief Executive Officer of the Barbados Agricultural Society (BAS) James Paul says the increase in feed prices was inevitable.

However, he has suggested that boosting food production, which would result in cheaper food, can reduce the impact of these higher feed prices on farmers’ operations.

Speaking to Barbados TODAY in response to Pinnacle Feeds’ announcement that the price of feed products will increase next month, Paul said that although the situation will be a hard one for farmers, it was unavoidable given the rise in raw material costs in international markets over the past several months.

He said food production had to increase locally to help keep prices down.

“Unless we have a better way of producing these commodities, I don’t know what the alternative [is]. I think what we have to do is to recognise . . . we need to grow more food [and] produce more food. When we talk about food, people somehow think that we are entitled to cheap food…. The thing is really, yes, you could have cheap food, but it depends on other things being done.

“We need to increase our overall food production in order to try to ensure that we have the type of food production that can sustain people and basically [have] affordable prices,” he explained.

The BAS CEO stressed that all necessary resources should be made available by the Government and relevant stakeholders to achieve this goal.

“Anything is viable once you have the resources to achieve it. The point is, the country has to be prepared to put in the necessary resources to achieve what they want. Are we prepared to do that as a country, put in the necessary resources to achieve increased food production? Stakeholders in the industry have to be ready to put in more,” Paul insisted.

Pinnacle Feeds said in a statement on Wednesday that because of the ongoing Russia-Ukraine war and the end of price support from the Government this month, it has been forced to raise prices to remain viable.

“We are no longer able to absorb the raw material price increases and must adjust our prices if the company is to
remain viable and continue to support our local community,” it said.

The feed manufacturer said the increase, which will take effect on March 15, may vary slightly by feed type. 

shamarblunt@barbadostoday.bb