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VOL. 28 NO. 5 •
SEPT-OCT 2018
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Food imports
jump to US$841M By Patrick Maitland, Editor-The Agriculturalist
A
Michael Lee-Chin, a Jamaican-Canadian business magnate, investor, and philanthropist who serves as the Chairman and CEO of Portland Holdings Inc., a privately-held investment holding company headquartered in Ontario, Canada. Forbes Magazine estimates his Net worth at 1.4 billion USD (2018)
Chin donates $60M to assist coffee farmers Story on page 7
s government economists struggle to contain the devaluation of the Jamaican currency, the island’s food imports continue to outperform agricultural export by over 375 percent. According to data supplied by the Statistical Institute of Jamaica, food imports during 2017 were US$841 million, while export of agricultural produce and other commodities struggled at US$224 million. The island is now a net importer of several raw and manufactured products, including rice, sugar, coffee, cocoa, citrus, banana, pimento and ginger, as well as fish, milk, meat, and other livestock products. Just over US$21.69 million was used to import 31,965,275 kilograms of the popular chicken neck and backs. Chicken leg quarters and other poultry meat are often imported. However, with very high import taxes imposed by the government, local farmers are well protected from cheaper imports. Continued on page 5