Barbados’ 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 the 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.” 
• Barbados is already faced with a relatively high inflation rate (5.6% point-to-point for November 2021, up from 1.3% in December 2020) due to labour shortages, the rise in gas prices, the ongoing logistics challenges and the continued pile up in some main shipping corridors, resulting in a slowdown in border crossing. These factors, along with the rise in feed and meat prices could continue to put upward pressure on inflation over the short term.

 (Source: Barbados Today & NCBCM Research Team)