Chicken price flies high - Global hikes spark 4% increase
published:
Friday | February 22, 2008
The price of chicken meat supplied by Jamaica Broilers was on Tuesday increased by four per cent.
Yesterday, another supplier of the country's preferred source of protein reported that its price might inch up within another month.
Currently, the price of chicken meat ranges from $105 to $120 per pound at various establishments throughout the Corporate Area.
Chris Levy, vice-president at Jamaica Broilers, told The Gleaner yesterday that the increase was as a result of rising production costs.
Levy said the company was grappling with rising costs for grain, wheat and petrol on the world market.
Caribbean Broilers Limited, the other major supplier of chicken meat, said it was faced with similar problems. In fact, the company said based on the trend of the cost of grain on the world market it may have to increase its prices within another four weeks.
Caribbean Broilers had a price adjustment of three per cent at the end of January.
Manager of corporate affairs at Caribbean Broilers, Dr Keith Amiel, said the current trend of sharp increases in the price of grain might continue for the the next 10 years.
"There are increases all over," said Dr Amiel. "Grain prices (are) going up, but also shipping charges as the vessels use oil which is also increasing in costs, plus the exchange rate is going up."
He also noted that the price of local inputs such as electricity and water were also climbing.
