New Investment in Jamaican Pig Sector07 July 2014
JAMAICA – Significant money is being chanelled into Caribbean pig and poultry units by some of the world’s largest companies.
Last year, the Development Bank of Jamaica poured J$1 billion into the two sectors, up from J$177 in 2012 and J$80 million in 2009.
Five years ago, generous loan schemes began targeting pig and poultry businesses, according to the Jamaica Observer.
"What you find is that poultry is the most sufficient converter of animal protein when compared to fish, cows or pigs," said Ian Parsard, senior vice-president of operations at the Jamaica Broilers Group.
"So when costs are going up, chicken will go up at a lower rate than those other proteins and it is a competitive product for Jamaica consumers."
Pig Farmers Association President, Delroy Manya, says he is confident about growth in the sector and is lobbying for contracts between farmers and processors.
"Last year, we had an over- production and many farmers pulled out, so now we are having a shortage," said Mr Manya. "However, we are ramping up production to ensure that we have adequate supply for the domestic market."
Pork output fell 5.2 per cent last year after a 33 per cent spike in output in 2012.
Poultry has been flat at just above 100,000 tonnes since 2010, although ramped up investment in 2010 may see a jump in production, Jamaica Observer added.
ThePigSite News Desk