Agriculture Minister Karl Samuda has disclosed that the agricultural sector grew by 13 per cent for the quarter ending June this year.
Jamaica Broilers Group, which mainly sells poultry and eggs, made $1.7 billion in net profit for its April 2016 year end, up 71 per cent because of a jump in revenue.
Jamaica Broilers Group has sold its energy facility, JB Terminal Port Esquivel Limited, to West Indies Petroleum Limited (WIPL) for US$4 million.
Jamaica Broilers Group sold more poultry and eggs during its January 2016 third-quarter, which translated to $492.8 million net profit or 22 per cent higher than year-earlier levels.
Jamaica’s agricultural sector is showing signs of steady increase led by poultry production output which climbed to 112 million kilograms in 2015, the largest the country has seen in its history, according to the Ministry of Agriculture.
Kellier, who was guest speaker at the official opening of the Jamaica Broilers (JB) Cumberland Hatchery, stated that the ministry has also cemented an agreement with the JB Group for the production of an additional 50,000 chickens per week, to come into market by the end of February.
Photo caption: Agriculture Minister Derrick Kellier (left), and State Minister Luther Buchanan (centre), examine baby chicks, which are being counted and sorted, during a tour and official opening of the Best Dressed Chicken Cumberland Hatchery in Portmore, St.Catherine today. Chairman, Jamaica Broilers Group, Robert Levy, looks on.
Photo caption: Wholesalers and consumers have been complaining that they have not been able to get chicken in desired quantities and that prices have been inflated in some instances.
Jamaica Broilers Limited has invested $14 million in the rehabilitation of the Cumberland Hatchery, previously operated Jamaica Livestock Association.
Ian Parsard, senior vice president – operations and finance, Jamaica Broilers Group (JBG) – said yesterday that the company experienced a 17 per cent increase in demand in 2015. In order to meet this new level of consumer need the company has constructed a new hatchery and asked farmers to increase production levels.
KINGSTON, Jamaica – The Best Dressed Chicken is assuring the public that the increased demand for its products should be met by the end of next week due to a further increase in production.
The investment will translate to roughly a 25 per cent increase in capacity “that should go a far way in terms of meeting the potential additional demand that might be on the horizon,” senior vice president of operations and finance, Ian Parsard, told Financial Gleaner. The expected increase would translate to an additional 48,000 birds.