Commerce Minister encourages businesses to look at price adjustments amid cuts by Jamaica Broilers
Industry and Commerce Minister Aubyn Hill is encouraging businesses to see where they can make price adjustments similar to the move being made on chicken by the Jamaica Broilers Group.
Jamaica Broilers, the producer of The Best Dressed Chicken, has announced a cut in prices for some of its products, citing improvements in global marketing conditions.
The company announced that effective August 18, prices for The Best Dressed Chicken Grade-A Whole Bird and mixed parts will be reduced by $12.50 per kilo.
It said the decision is driven by stability in the supply of grains, foreign exchange and shipping costs.
“This is great news at this time for Jamaican consumers, who have been grappling with increased prices for food and consumables for all the months of this year,” said Hill in a statement today.
He noted that the sector has been plagued by the effects of the ongoing Russia-Ukraine war, which has negatively affected the supply of grain and its by-products.
This, he added, was a compounding of the already increasing prices caused by the COVID-19 pandemic, which disrupted world logistics and shipping arrangements.
“We understand the often severe constraints under which local manufacturers and distributors have been operating. However, we are pleased to note that some global market conditions and challenges are easing. This should allow the commercial sector to adjust where possible to reduce inflationary pressure on Jamaican consumers,” said Hill.
“This is especially important as we enter the cash-demanding back-to-school period with its attendant increased demands on parents and households to find new money to spend on children's education,” he added.
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