Feed monopoly to end in weeks as new supplier enters market

Super Feeds, a new $22 million feed company, is set to break the monopoly on the livestock and poultry market as its silos and mill prepare to open within weeks, Barbados TODAY has learned.

A source close to the deal, who spoke to Barbados TODAY on condition of anonymity, said the company’s state-of-the-art feed plant at Coral Ridge, Christ Church is expected to start operations by the end of March or early April. It is expected to employ more than 30 people and has already begun the hiring process for technical posts such as quality assurance and mechanical technicians.

Super Feed’s parent is Montrose Holdings Limited, a Barbadian group in agriculture, renewable energy and tourism in partnership with overseas investors. Barbados TODAY understands that two firms, one American and the other French, are backing the new feed plant. A breakdown of Super Feeds’ share ownership was not immediately available.

Asked to confirm if Super Feeds will be under the Montrose Holdings group of companies, the official said: “No. That may change in the future but right now, no.”

“Montrose Holdings is building the feed company for a foreign company. Montrose is helping them in the process of getting it up and going. They have paid Montrose to do certain things but Montrose will not be operating it. Montrose has been paid to do some things helping them along the way without them (foreign investors) having to get involved in planning, staffing and that kind of stuff.”

An Internet search of Super Feeds indicates that the opening date is set for Wednesday, March 20.

A number of farmers, including major operators, are said to be keenly looking forward to trying the feed from Super Feeds. They cited several problems over the years with the product by monopoly livestock and poultry feed producer, Pinnacle Feeds, a subsidiary of Roberts Manufacturing Company (RMCO).

Last June, Minister of Agriculture Indar Weir said he had toured the Super Feeds plant and was pleased with its progress.

Back then, Weir said the plant was fitted with modern technology, adding that he hoped the introduction of a new feed mill would translate into more competitive prices on the market and likely lower retail prices for meat and poultry.

The difficulties have also stemmed from the outbreak of war in Ukraine, the world’s largest wheat producer and a top-ten soybean source. The agriculture ministry then injected $4 million into a price support scheme in 2021 and another $2 million the following year.

A decision was made to create a $2 million revolving loan fund for farmers, with chief executive officer of the Barbados Agricultural Society James Paul announcing on Monday that his organisation would soon be in a position to offer special loan programmes as the government was closer to relinquishing the funds.

In 2021, Jamaican firm Proven Investments Limited took over a controlling stake in Pinnacle Feeds’ parent, Roberts Manufacturing, with minority shareholding by Trinidadian conglomerate Ansa McAl. The acquisition ended decades of wholly Barbadian ownership of the storied animal nutrition, oils and fats processor that precedes Barbados’ industrial era. Formed in 1944 by soapmaker JC Roberts, it was led by prominent entrepreneur KR (later Sir Kenneth) Hunte for 39 years.

sheriabrathwaite@barbadostoday.bb