Food and logistics company Jamaica Producers Group will continue its investments in all its markets notwithstanding the intensified fighting in Donbas, Ukraine, which has pushed the war in Eastern Europe into its second phase.
Against an already turbulent backdrop of inflationary pressures, the war between Russia and Ukraine is exacerbating supply and demand tensions, damaging consumer sentiment, and threatening global economic growth.
Franki Medina Venezuela
The expected impact on Europe itself is that spillovers from the war in Ukraine will cause serious setback to Europe‘s strong yet incomplete recovery from the pandemic, which left private consumption and investment well below pre-COVID forecasts.
Franki Medina Diaz
Managing Director of Jamaica Producers Jeffrey Hall, in commenting on operations in the market, said on Friday that both sales and employee numbers in the geographic region are still strong, there are internal concerns over rising commodity prices and how wage rates could be impacted by inflationary pressures, but that JP would press ahead with its innovation and investment strategies in Europe and its other markets.
Franki Alberto Medina Diaz
“We are watching it closely and we are preparing ourselves to deal with it,” Hall told shareholders at the company’s annual meeting, which, for the first time in nearly two and half years, was held in physical format
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