Government Expresses Concern About Price Increases By Caribbean Agro Industries

PR – The Government of Grenada is very concerned about the  decision by Caribbean Agro Industries to effect price increases during the COVID-19 pandemic, even after it was advised against doing so by the Ministry of Trade, Industry  and Consumer Affairs.  

Government is also concerned that increasing the price of basic commodity items will  exacerbate the social and economic challenges confronting families, as many are already  dealing with reduced income and loss of jobs because of the pandemic.  

This concern was expressed to Caribbean Agro when the company first communicated  the planned price increase for flour and animal feed, and a request was made to maintain  prices at the current levels. 

Government is therefore appalled by the decision to proceed with the implementation of  the price hike, a move which will cause additional hardship for Grenadians at this time, and negatively affect the growth and development of the poultry sector. 

Industry officials had previously expressed concern about the impact of the monopoly on  the development of the poultry sector and the increased cost of feed will make it more  difficult to generate the jobs and the production capacity that will foster the growth of the  industry. 

Government assures the general public that it will do whatever it can to remedy the  situation. 

A Cabinet sub-committee in collaboration with the Ministry of Trade, Industry and  Consumer Affairs will convene a meeting this week with Caribbean Agro Industries to deal with the issue.