November 24, 2020
Salada Foods Jamaica Limited (SALF)has advised that, further to the Company’s filing of an urgent application against the Jamaica Agricultural Commodities Regulatory Authority (JACRA) in the Supreme Court of Judicature of Jamaica for, among other things, leave to apply for judicial review to seek orders of certiorari and mandamus for the decision taken by JACRA that pursuant to the Jamaica Agricultural Commodities Regulatory Authority Regulations 2018 section 19, SALF must now include 30% local coffee content in the production of its instant coffee powder with effect on September 1, 2020.
On Friday, November 13, 2020, Justice Nembhard delivered an oral judgement denying SALF’s application in which she ruled, among other things, that JACRA had the power under the Jamaica Agricultural Commodities Regulatory Authority Act to make regulations including regulation 19 and that instant coffee manufactured by SALF was the subject of regulation 19. She further rued that JACRA had no power to grant a waiver to the requirements under regulation 19 and accordingly SALF could not have a legitimate expectation that a waiver should be granted.
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
