There are concerns that food prices could spike in Jamaica following an increase in the price of flour, as well as, fears of chicken shortages.
Jamaica Flour Mills (JFM) recently announced that the cost for flour would increase by 11%, a change that is expected to take effect on Monday (May 10).
The increase in the price of the basic commodity is expected to impact other products,including baked goods like bread.
According to the JFM the price adjustment was necessary as the cost of the major raw material, wheat, had skyrocketed more than 28 per cent.
“Grain prices traditionally traded on stock exchanges around the world have seen unprecedented increases,” explained JFM’s management.
“JFM, through its ADM grain division, continues to purchase at the best wheat prices available in the global market in an effort to secure Jamaica the best available prices…,” the company’s management added.
The flour mills management further explained that other factors impacted the price of the commodity noting that frequent increases in oil prices also influenced the decision.
US chicken shortage could impact Jamaica
In addition, there are concerns that a current US chicken shortage could impact the local market.
The Washington Post last week reported that a number of chicken meat products were scarce, with many restaurant owners having difficulty sourcing the meat.
While Agriculture Minister Floyd Green has noted the concern, he has said that local suppliers aren’t reporting a significant issue in sourcing the poultry product.
“We are concerned and as such we will continue to monitor and to work with our importers to see what their experiences have been, “ said Green.
Again, thus far we haven’t gotten any significant reports of an inability to source,” he added.