With the right investments, the Caribbean can become a regional food hub with an extensive reach as far as North America, thereby cementing its position as a high-value specialised market.
President Dr. Irfaan Ali made this disclosure on Tuesday during a virtual Caribbean agro-food investors conference.
“Because of our scale, our location and our own competitive advantages, [the Caribbean] has a great opportunity of positioning this market as a high-value specialised market, whether we’re talking about honey, spices, aquaculture, cocoa, coffee, barley, corn, soya [or] high-value fresh fruits and vegetables,” Ali said.
In fact, he said Guyana alone has adequate land to produce enough barley that can not only satisfy the entire regional demand but can also be exported to North America.
Recently, the country also commenced the production of corn and soya, intending to not only be nationally secure but produce all the corn and soya for feed production throughout the region by 2026.
However, the President noted that a critical issue that needs addressing is the regional transport and logistics sector, adding that in order to transform this part of the hemisphere into a regional food hub, there needs to be a better network for the movement of goods.
“What we are positioning now, the ecosystem to do for us, is to look at the opportunity that exists in Northern Brazil, and to reengineer the food production system in which we start by utilising the potential of Northern Brazil,” Ali said.
Using Northern Brazil as a transport channel can significantly save time and money, reducing the food transport process within the region from three weeks to 72 hours.
“Food can get through the Caribbean, get through Guyana and up north in less than 72 hours coming out of Northern Brazil, if that [transport and logistics sector] is invested into with the right technology, the right facilities, the right sanitary facilities,” he added.
In order to continue building out this advanced ecosystem, the President also highlighted a need for storage facilities to decrease post-harvest losses, expanding the market and targeting high-value crops, addressing sustainability and climate resilience, and involving more women into the agriculture sector.
While it is an extensive venture, the President assured investors present at the conference of the vast potential within the region.
“The attractiveness of the Caribbean region–our geographic location, the direction in which we are going, the type of incentives we’re offering is second to none. Now we’re also a region that produces a wide variety of fruits, vegetables, spices, fruits, natural juices, an emerging market that is going to have great potential coconut water. All of these are tremendous opportunities,” he said.
