President of the Supermarkets Association Rajiv Diptee is warning that the recent increase in the price of animal feed, may lead to an increased cost of livestock products for consumers.
On Monday, livestock feed importer Mastermix increased prices, citing international increases in corn and soybean as well as global demand-supply forces.
Diptee, according to a Newsday report, said that the food price increases will be based on the farmers and what they see adequate for their production.
He added that global market shifts in feed production warranted changes, but too often supermarkets have to accept what is handed down to them.
However, Diptee pointed out to the media house that “Most supermarkets carry more imported livestock rather than local because it has a more attractive price point for the consumer in addition to the fact that it is easier to work with frozen meat rather than fresh meat.”
Diptee said diversification in the agriculture sector was urgently needed, as the pandemic, in spite of the challenges, also provided opportunities.
State-owned National Flour Mills has not raised its prices but noted that it was monitoring the international trends.