Caribbean Broilers, another supplier of chicken meat, has been forced to adjust its prices in recent weeks due to the sliding value of the Jamaican dollar and has signalled that there is further pressure on the cost of supplies to consumers.
In addition to the exchange rate movement, Caribbean Broilers said increases in corn, soya bean and utilities have resulted in price changes since January.
Dr Keith Amiel, corporate affairs manager at Caribbean Broilers, said on Tuesday that these factors were causing the company to frequently review the price of chicken meat.
“The last increases were 2.5 per cent, but we will have to review it every now and then to see if we can hold it or we will have to move again,” said Dr. Amiel.
On Tuesday, Christopher Levy, CEO of Jamaica Broilers, said the sliding dollar had forced his company to increase the price of chicken meat for a second time this year.
Prices went up in January and the company said the continued slide of the currency will force its hands again before the end of this month.
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