Another fast food chain to hike prices soon, as the cost of chicken goes up

Another fast food chain to hike prices soon, as the cost of chicken goes up

The Global Brands Group of Companies, which owns Church’s Chicken, will soon be increasing their prices.

This comes on the heels of KFC’s revelation that they have increased prices on some of their specials by $2.05 as a result of increased chicken costs.

In an interview with the Newsday, Global Brands Chairman Mario Sabga-Aboud said they too will be raising, as they have no choice.

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However, he said their increase will be incremental.

Sabga-Aboud said: “Everything has gone up drastically so we have to raise it within the next few weeks. Our suppliers are raising their prices and while this is not the right time to raise prices on anything, they said they would work with us, so there will be incremental increases.

He added: “Within the next few weeks we will do a transition from two per cent to five per cent to ten per cent.”

The Ministry of Trade and Industry (MTI), has confirmed that the cost of chicken has increased by approximately 19 cents.

According to the ministry’s website, the average price per pound of chicken for the month of June was $7.33, while for May, it was $7.14.

The average price per pound is the price before the chicken was killed, plucked and gutted.

The MTI statement said, “As part of its mandate to ensure fair pricing in the marketplace, the Consumer Affairs Division has been collecting live poultry prices from a sample of poultry depots throughout Trinidad. The prices reflected prices collected June 25 to 27.”
However, no updates were given for July.

Meanwhile, Arawak chickens has not increased prices but the report states that management is monitoring the global market structure to guide any decision.

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