There is more good news for consumers as far as food
prices are concerned.
The Government said it expects a gradual reduction in the price of basic food items arising from the dip in the cost of commodities such as animal feed and grains on the world market.
It has also pointed to the recent decline in the price of oil.
Commerce Minister Karl Samuda said he is pleased that local retailers have started to pass on the benefits to consumers.
CAC to monitor market
He told RJR News that his Ministry has put a special monitoring system in place to ensure that consumers benefit from the price reductions.
"It may be a small amount at this stage but if this trend continues, then we'll see a gradual reduction in the price of these very essential items," said Mr. Samuda.
He added that the Consumer Affairs Commission (CAC) will be closely monitoring these market trends both to ensure that the reduction is passed on to the consumers and that items that are to be reduced are reduced.
Chicken prices reduced
Consumers will start to benefit from a reduction in the price of chicken meat starting Wednesday.
This is in keeping with an announcement last weekend by Jamaica Broilers following a decline in the price of chicken feed internationally.
Jamaica Broilers, which is the country's largest producer of poultry, said consumers will pay $4.50 less per kilogramme, for all its Best Dressed chicken products.
President and CEO of the Jamaica Broilers Group, Robert Levy said the reduction was also due to a drop in world corn prices.
Mr. Levy said the drop could be the first in a series of price reductions as the cost of feed-stock continues to trend down on the world market.
Another major chicken producer, Caribbean Broilers said it too will drop its prices in another six weeks.
The company said as soon as the next batch of broiler chickens is mature enough to hit the market, it will cut prices.
Cheaper flour coming
There is also likely to be a reduction in the price of bread and baked products in coming weeks.
The island's sole manufacturer of flour, the Jamaica Flour Mills, said it has identified a cheaper blended product which is being used in the local baking industry in a trial run.
Managing Director Derrick Nembhard said it will be released to the market later this month.
"Flour Mills has looked at the blending of different types of hard wheat namely spring wheat and hard red winter wheat ... we have had that trials in a number of bakeries and they have proven to be successful.
We expect to have that product ready for distribution towards the end of this month into early in September," said Mr. Nembhard.
The Government said it expects a gradual reduction in the price of basic food items arising from the dip in the cost of commodities such as animal feed and grains on the world market.
It has also pointed to the recent decline in the price of oil.
Commerce Minister Karl Samuda said he is pleased that local retailers have started to pass on the benefits to consumers.
CAC to monitor market
He told RJR News that his Ministry has put a special monitoring system in place to ensure that consumers benefit from the price reductions.
"It may be a small amount at this stage but if this trend continues, then we'll see a gradual reduction in the price of these very essential items," said Mr. Samuda.
He added that the Consumer Affairs Commission (CAC) will be closely monitoring these market trends both to ensure that the reduction is passed on to the consumers and that items that are to be reduced are reduced.
Chicken prices reduced
Consumers will start to benefit from a reduction in the price of chicken meat starting Wednesday.
This is in keeping with an announcement last weekend by Jamaica Broilers following a decline in the price of chicken feed internationally.
Jamaica Broilers, which is the country's largest producer of poultry, said consumers will pay $4.50 less per kilogramme, for all its Best Dressed chicken products.
President and CEO of the Jamaica Broilers Group, Robert Levy said the reduction was also due to a drop in world corn prices.
Mr. Levy said the drop could be the first in a series of price reductions as the cost of feed-stock continues to trend down on the world market.
Another major chicken producer, Caribbean Broilers said it too will drop its prices in another six weeks.
The company said as soon as the next batch of broiler chickens is mature enough to hit the market, it will cut prices.
Cheaper flour coming
There is also likely to be a reduction in the price of bread and baked products in coming weeks.
The island's sole manufacturer of flour, the Jamaica Flour Mills, said it has identified a cheaper blended product which is being used in the local baking industry in a trial run.
Managing Director Derrick Nembhard said it will be released to the market later this month.
"Flour Mills has looked at the blending of different types of hard wheat namely spring wheat and hard red winter wheat ... we have had that trials in a number of bakeries and they have proven to be successful.
We expect to have that product ready for distribution towards the end of this month into early in September," said Mr. Nembhard.
All feeds
