From Origin

Salada Pays Out Millions In Tax On Imported Green Coffee Beans


NSTANT coffee processor Salada Foods Group (SALFG) Chairman Partick Williams reported to stockholders that SALFG’s profitability in the nine-month period ended June 30, 2019, continues to be impacted by the tax imposed on green coffee beans. It has already paid out $56 million to Jamaica Agricultural Commodities Regulatory Authority (JACRA) year to date.

“Prior year results, June 30, 2018, there was no cost impact attributable to the cess; profitability has been adversely affected as a result,” Williams stated on Thursday last (August 8) in the report posted on the Jamaica Stock Exchange website.

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