Pinnacle Feeds Implements Three Percent Price Cut on Animal Feed in Response to Global Grain Cost Reductions
October 11, 2024
Pinnacle Feeds reduces animal feed prices by three per cent, citing global grain cost declines. This marks the latest in a series of cuts, totaling an eight per cent decrease over 14 months.
Pinnacle Feeds yesterday announced a three per cent reduction in its animal feed prices, a move that is expected to positively affect farmers.
This latest adjustment, which takes effect from November 1, follows a series of price cuts by the feed manufacturer, reflecting a steady decline in international grain costs, which played a significant role in feed production expenses.
Managing director, Rakeesh Bernard, said the decision was driven by consistent, albeit modest, decreases in global grain prices. The current three per cent cut brings the cumulative reduction in feed prices to eight per cent over the past 14 months.
Previous adjustments included a two per cent reduction in August 2023 and another three per cent cut in October 2023, changing feed prices back to 2022 levels.
