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Feed prices jump
Business
BY DURRANT PATE Observer business writer pated@jamaicaobserver.com  
March 12, 2022

Feed prices jump

Price hike due to rising raw material costs exacerbated by war in Ukraine

LIVESTOCK farmers are to be hit with a hike in prices for animal feed supplied by Nutramix come tomorrow.

The company announced a hike in prices due to the war in Ukraine, which was invaded three weeks ago by Russian forces.

Nutramix, a division of Caribbean Broilers Group, pointed out that as the conflict in eastern Europe develops, coupled with ongoing increases for agricultureal commoodities, “the company is witnessing historically high raw material costs, which directly affect the price of feed and food”.

Both Russia and Ukraine are net suppliers of raw materials and animal feed to the world market, and the war has seen demand spiking in light of the fall-off in supply from the two warring countries. Nutramix, in an advisory to farmers, stated “while we continue our efforts to explore every option to keep feed accessible and resonably priced, we are forced to adjust the prices of our feed”.

The advisory did not indicate the quantum of the increase, and calls made to Nutramix’s official spokesperson to ascertain this information went unanswered. The company says it will continue to support farmers during these challenging times and that the Nutramix team is available to provide more information on this ongoing issue.

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