Despite declines in the cost of corn and wheat on the international market, Jamaican consumers will not see an immediate reductions in food prices. In that regrd, Ian Parsard, Vice President for Finance and Energy at Jamaica Broilers, pointed to the continued slide in the value of the Jamaican dollar.
“Looking at both things in context, it’s difficult to give a precise answer at this point in time,” he said.
Nevertheless, he argued, “we do feel that things are pretty much in a balance now in terms of the reduction in grain prices being almost matched equally by the devaluation of the dollar.”
That being the case, he said, consumers should not see “an immediate price increase.”
Beyond that, he would only express a wish that that there could be a price reduction, “if there is some stability in the dollar.”
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No immediate benefit to consumers from fall in grain prices
