Too early to see impact of Russia, Ukraine conflict - says Mahfood

The President of the Jamaica Manufacturers and Exporters Association (JMEA), John Manfood says its too early to state the likely impact the Ukraine/Russia conflict will have on the country's food supply chain.

 He says local manufacturers are however worried that the continued spike in crude oil will drive up their operational costs.

”We do know that $110 is going to increase the price of oil in Jamaica by 10 percent. Increase the price of gas at the pump, unless the government decides to remove some of those taxes - I think that Jamaican taxi drivers and the public will feel the impact. Ukraine is one of the largest countries outside of Russia and is really the bread basket producing a lot of grain and cereal and oils - not petroleum, but food oils. We buy food from Ukraine so if they are devastated , then there is another long term problem But for now in the short term - it will be the impact on oil prices that we are going to see,” he stated.