The price of chicken is going up again - and, again, it is due to grain prices on what is known as the futures market. All this is tied to global inflation so there's little that can be done locally. But, for Belizeans who consume so much chicken as an affordable form of meat protein, the 10 cents a pound is surely going to hurt.
CTV-3 spoke to Armando Cowo of the poultry association about it:
Armando Cowo, Belize Poultry Association
"The price is fluctuating right now and its going up on Monday. That's true. And the reason for that is that our companies don't run out and buy corn every day. What they do is they buy corn in bulk. We're looking at between 8-12 cents, so that an average more or less like 10 cents and we don't know exactly how that will play out. One, we have to be careful not to destroy the demand for the product, as we all know if prices go up people stop buy. So we cannot destroy the demand, so we have to be very careful how we calibrate our adjustments and its important that people understand why these adjustments are taking place, because these are not arbitrary decisions that anyone makes. It takes a lot of planning and thinking and looking forward. So, yes, the consumer will see an increase. Hopefully, they are not gouge by the retailers. Let's say 10 cents a pound, right now for example you are paying $3.00. You should be paying $3.10 with the new price. If you are paying $3.00 for a pound of chicken and you have a 4-pound chicken, that's $12.00 and if you increase 10 cents, its will be $12.40."
Cowo warns that while the price should be 3.10 per pound, retailers could be taking it much higher.
We'll have more on the increase next week.
