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JAM | Aug 11, 2024

Output prices up marginally for domestic mining and quarrying industry

/ Our Today

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Sand and other aggregates being sifted at the Poormans Corner quarry owned and operated by Jamaica Aggregates Limited in Yallahs, St Thomas. (Photo: Jamaica Aggregates Limited)

Output prices in the mining and quarrying industry increased by 0.6 per cent for June 2024, based on the latest producer price index (PPI) published by the Statistical Institute of Jamaica (STATIN).

This increase was attributed to a similar 0.6 per cent increase in the index for the major group ‘Bauxite Mining & Alumina Processing’. For the manufacturing industry, there was an increase of 0.6 per cent in the index. 

This was a result of increases in the index for the major groups, ‘Food, Beverages & Tobacco’ (1.2 per cent), ‘Chemical and Chemical Products’ (0.6 per cent), and ‘Paper and Paper Products’ (1.5 per cent). However, tempering the industry’s overall increase was a 1.1 per cent fall in the index for the major group, Refined Petroleum Products’. 

A shipment of fuel arriving at the Petrojam Refinery in Kingston Harbour in this undated file photo. (Photo: Contributed)

For the period June 2023 – June 2024, the point-to-point index for the Mining & Quarrying industry declined by 2.9 per cent. This was a result of a 3.2 per cent fall in the index for the major group ‘Bauxite Mining & Alumina Processing’. 

The point-to-point index for the manufacturing industry increased by 3.4 per cent. Increases in the major groups ‘Refined Petroleum Products’ (10.8 per cent) and ‘Food, Beverages & Tobacco’ (2.6 per cent) contributed to this upward movement.

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Jamaica June 2024 trends mining and quarrying industry producer price index Statistical Insitute of Jamaica

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