Over the last couple of years, particularly since the middle of 2020, the extremes in economic turbulence and price inflation has had a direct impact on the prices of commodities, energy, logistics, and related costs.
Additionally, the invasion of Ukraine is having a massive effect on food, feed, and energy supply chains with consequent price shocks. Ukraine is one of the most important suppliers of feed grains and oilseeds to the global market. This unprecedented war has sent ingredient costs soaring again and forced price rises to levels never seen before. For this reason, RED MILLS have unfortunately had to increase the prices of our feeds
The table below illustrates the magnitude of some of the ingredient cost increases:
We understand that the above increases in feed prices are very difficult for our customers in addition to all the other inflationary pressures. We would like to reassure you that we are doing all in our power to manage costs and above all ensure that the quality and nutritional value of our products is maintained to the highest level. We take a no compromise approach to the quality and consistency of our products irrespective of the costs. Our commitment to horse health, welfare and performance is the cornerstone of our philosophy.
Our thoughts and prayers are with the peace-loving people of Ukraine and we hope for a swift resolution to the conflict.