As Government officials work behind the scenes to avert a hike in animal feed prices, farmers have declared that another increase in the cost of the product could drive them out of business.Saying that they simply cannot afford to pay more at this time, they warned of layoffs and even bankruptcy with a possible hike by Pinnacle Feeds looming.Minister of Business Kerrie Symmonds told Barbados TODAY that an analysis is being conducted to determine the extent of the challenges the company said had contributed to its decision to increase prices by as much as 11 per cent and inform recommendations on the way forward.The manufacturer of poultry and livestock feed informed the Barbados Agricultural Society (BAS) last week that it could no longer hold off increasing prices until January 2023, given increasing input costs. However, it subsequently announced that it would delay the planned increase.
Members of the farming community are standing behind Government’s measures to assist consumers with the rising cost of living. They are also pleased with the commitment by the island’s lone feed company to keep prices at a minimum for the next six months. Yesterday, in response to Prime Minister Mia Amor Mottley’s announcement last Thursday, some livestock and crop producers said that given the financial hardships many Barbadians were experiencing, …