Pinnacle Feeds working with Ministries on feed pricing
Pinnacle Feeds continues talks with the Ministry of Agriculture and the Ministry of Energy and Business to work out the next step on animal feed pricing.
In a statement Pinnacle Feeds said it will “continue to explore all options available to find the optimal outcome for local farmers,our company, employees and the wider Barbadian public.”
On October 8, 2022, Pinnacle Feeds revealed that it was no longer going to increase the price of its animal feed, as it had intended just days having prior.
The country’s lone feed producer said “during this process, we continue to operate in good faith and with transparency to ensure that the government can understand the financial impact of the increased cost of raw materials on our operations.”
The company added that while it is not customary for a privately held company to share this type of information, we are committed to this process and arriving at the most tenable outcome for all stakeholders,” the company stated.
Representatives of Pinnacle Feeds met with officials from the two Ministries to discuss the situation and begin the information-sharing process. This process continued over the weekend, followed by very collaborative discussions on Monday, October 10.