Supermarkets warn animal products prices may go up as feed prices increase

The Supermarkets Association of TT (SATT) said it may not be left with much of a choice to raise the prices of animal-based products given the price increases in animal feed by the suppliers.

President Rajiv Diptee told Newsday that if state bodies have no choice in the matter, then supermarkets will also have little recourse but to adapt to the costs that was being passed on to them.

His comments came after National Flour Mills (NFM) on Wednesday announced that its animal feed prices were raised between three and 14 per cent last month owing to global grain increases. It came into effect on February 22, NFM said.

Mastermix, a private local feed supplier also raised its prices by 10 per cent in early February. Attempts to contact Nutrimix, another private local feed supplier was unsuccessful.

Diptee said if feed producers were increasing prices it was because they have been unable to absorb the cost of continuing to access raw materials at higher prices given the global challenges.

“SATT has also been buckling under the strain of increased prices from several suppliers due to the foreign exchange crisis as well as exigent circumstances such as the increased cost of container shipping and other variables.

“Short of an intervention to the private sector to provide a boost to foreign exchange and increase efficiencies across the board, this will certainly impact prices as state bodies, including NFM, are saying they cannot hold their hand at this time.”

“It is unfortunate at this time that these costs cannot be absorbed by our suppliers.”

Global supplies in grains – soybeans and corn, have been affected by China’s high demand and dry weather conditions in South America, which has been further exacerbated by the covid19 pandemic in terms of international shipping, which has driven up shipping costs.

Former president of the Sheep and Goat Farmers Association Shiraz Khan, who is a livestock farmer in Carlsen Field, Chaguanas, said farmers were frustrated that the situation was not been addressed as an urgent matter.

He said farmers continue to suffer and some of them have even opted to get out of farming.

“We cannot raise our prices because we will be competing with highly subsidised imported livestock products. What then are we left to do? People are just getting out of the business. They are selling out their sheep, goats, cattle and poultry.

“Added to this praedial larceny continue to hamper us. We are spending more money on, waking longer hours to ensure the animals are safe and not stolen. Some of us just banding our bellies and hoping for the best.”

Khan called for the urgent intervention of the Ministries of Agriculture, Land and Fisheries and Trade and Industry.

“We have asked the minister of agriculture and the minister of trade to have a meeting with us to find ways to have a stimulus package for the farmers, in a similar way like the other sectors.

“Grants were given out during the covid19 pandemic. So, what happened to the farmers in the country? We just asking for a buffer the present increase on the price of feed.”

Egg prices have already been increased, but the Association TT Table Egg Producers said they will not be able to implement further increases because they would lose customers.