Jamaica Broilers expects relatively good production through Christmas
Christopher Levy, CEO of Jamaica Broilers (right) and Gary Peart, CEO of Mayberry Investments during a recently held Mayberry Investor Forum.
President and CEO at Jamaican Broilers, Christopher Levy, says the company is expecting to see a relatively good chicken production through Christmas.
Speaking at a recently held Mayberry Investor Forum, Levy said Jamaica Broilers is now seeing balance coming back to the market, hence his optimism about the coming months.
Levy said there had been a tightening in the market. Moreover, the volatility and the rapid change in the demand curve had either pushed Jamaica Broilers' inventories up or down.
“There had been small farmers who have entered the market, then come out; they are big players and about 30 per cent of the industry, and now they are coming back in. The challenge is that the time between the market change and getting the processed birds to market are roughly about nine weeks, so the response has to be very quick and sensitive to it,” Levy explained.
President and CEO at Jamaican Broilers, Christopher Levy
The Jamaica Broilers CEO also made note of the strides the group has made in its performance during the pandemic, particularly, forming a COVID committee team; restructuring due to a falloff in demand curve; cutting ties with some key partnerships and realigning the decision-making processes.
“Without a doubt, the Lord has blessed us and protected us through this, we have seen inventories go up and come down in short order. However, the fundamentals of the company and the resilience that we have seen are nothing short of overwhelming. We are very excited about the future and believe that the foundation of the company is strong; we have also seen very good markets in all the areas we operate in and the persons involved with us are also excited,” explained Levy.
Executive Chairman of Mayberry Investments, Christopher Berry, shared his thoughts on how the country was adjusting overall to the pandemic saying that “COVID is beyond our control, nevertheless, we have experienced it and are better able to move forward with the wisdom gained to implement more feasible solutions”.
“The quick fix is to focus on more effective means to prevent the spread of COVID by making it easier for tourists to follow protocols to keep them safe while protecting the safety of Jamaicans. Once people feel safe, they will continue to visit Jamaica. If we do not do that we will be in a worse position because there are other countries that are being very aggressive and we could very well see the market shift from ourselves to other places. The hard fact of life is that whenever you have challenges, they don’t go away and you have to find ways around them. We just have to go out there and face the music and get the economy moving, we will be fine,” explained a confident Berry.