Jamaica Broilers and the CB Group are the two latest food producers to signal that prices will increase as a result of higher commodity prices on the global market.
CEO of the CB Group, Matthew Lyn, says the price increase is inevitable.
“The price changes that you are seeing on the market are directly related to the grain market and the commodity prices that have just skyrocketed over the last six months. We have no control over that and this leads to general food inflation worldwide,” said Lyn.
For his part - the CEO of Jamaican Broiler, Christopher Levy, says the disruption in the global market is likely to continue until trade challenges are resolved.
“Grain prices and commodity prices are skyrocketing world wide ....the cost of living is going up and it will be awhile before it goes down .Everything is moving up - corn, wheat, copper - everything will have an impact on the cost of living,” he said.
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