Barbadian consumers can expect increases in the price of local eggs, poultry and other meats as the lone local feed manufacturer serves notice of its plan to raise its prices.
Pinnacle Feeds Limited has officially written the farming community stating that the price compact of July 16th has had a significant impact on its financial performance. It says the impact has been so severe that it cannot delay price increases until January next year. Pinnacle Feeds says it will therefore increase prices on its portfolio by next Monday, October 10th.
The increases will range from six to 21 percent.
Chief Executive Officer of the Barbados Agricultural Society, James Paul, tells Starcom Network News farmers will have to raise their prices too as a result.
But he warns against importing similar products saying this will hurt local farmers and put people out of work.
President of the Barbados Chamber of Commerce and Industry, Anthony Branker, tells Starcom Network News he can understand why a company like Pinnacle would have to make such a decision as businesses are feeling significant pressure.
Voice of: President of the Barbados Chamber of Commerce and Industry, Anthony Branker.
