Investment Opportunities in Food
TTABA currently buys local hot peppers and produces the “pepper mash” that goes into VEMCO’s brand of hot sauce. TTABA itself produces a line of products under the brand, Flavour Islands, which include cassava, plantain and sweet potato breads; fries; and cut vegetables. They also market frozen coconut water and various vegetable and fruit purees. FBIDC On the investment end, the Ministry of Trade, Industry & Investment has established the Food and Beverage Industry Development Committee (FBIDC) with the intention of making, “the food and beverage industry a sustainable and efficient revenue generating option. The FBIDC is charged with the responsibility to oversee the further development of the domestic food and beverage industry…” The Food and Beverage manufacturing industry currently employs over 11,000 persons with over 300 registered manufacturers and continues to grow. It benefits from attractive incentives designed to promote sustainability in the Agricultural industry and ensure raw materials for downstream agro-processing manufacturing. There are two distinct types of growers
in T&T - those who cultivate on a large scale, mainly for sale to wholesale markets; and niche growers practising permaculture, supplying green and exotic markets. There is room and opportunity for both, as large-scale farmer Joe Pires Jr and small-scale farmer Erle RahamanNoronha can attest. The Onions That Made Us Cry Pires, who is also TTABA president, farms 300 acres and currently produces one-fifteenth of the total sum of onion imports grown on 5-10 acres. He says that it is entirely possible to reduce our dependence on imports and become selfsufficient, and reasons beyond just food security to do it. The proof of the vegetable is in the eating, and for Pires, one of the best reasons for eating locally is the “freshness” and “taste” of the produce. Referencing onions as his example, Pires said: “ Remember the onions we got as a child, they were crisp and made you cry when you cut into them because they were at their peak…..now, not so much.” Advances in storage and refrigeration mean that imported produce is picked well before its peak and stored for longer periods of time; taste can also
be affected by the chemicals used to preserve produce. Erle Rahaman-Noronha grows on a small scale for local consumption. He practises permaculture on his 30-acre farm, Wasamaki Eco Systems, in Freeport. Using the water from his fish farm to grow food, crops are not exposed to pesticides or artificial fertilisers and appeal to the “green buyer.” While he cannot compete on the same scale as the large farmers, Rahaman-Noronha says, “we are able to service more people at a ‘grass roots’ level, enabling them to buy fresh produce at a lower cost.” This allows for greater sustainability and also gives Rahaman-Noronha the opportunity to target a number of smaller, niche markets that would not be serviced by larger growers. There remains ample room for growth in the agribusiness industry and a great deal of opportunity for the savvy investor. Interested investors can find information on investment opportunities, government incentives and the Ministry’s strategic plan on its website at: http://www.agriculture.gov.tt/ main-media.html. Other Useful Links: http://www.ttaba.com/ http://www.exportt.co.tt/
Summary of Production Targets identified for Priority Commodities Commodity Food Group Commodity
For Period 2012 – 2015 Production in Tonnes
Current Consumption
Current Production
2012-2013
2013-2014
2014-2015
Staples Rice 33,636 2,273 3,000 5,000 7,500 Sweet Potato 7,000 3,150 8,727 10,909 13,090 Cassava 4,500 5,454 11,817 15,453 18,182 Breadfruit2 10 10 11 12 13 Vegetables Tomatoes 2,600 2,150 2,444 2,774 3,100 Hot Peppers 423 710 1,100 1,500 1,800 Cucumber 1,050 1,320 1,400 1,500 1,760 Pumpkin 485 1,790 1,840 1,890 1,950 Melongene 436 540 550 565 586 Ochro 921 940 960 980 1,000 Dasheen Bush 328 340 360 380 400 Onion - - 500 1,500 2,000 Fruits Banana (Sucrier) ≤5 ≤5 230 300 400 Citrus1 32,271 1,537 1,614 1,695 1,780 Mangoes1 50 50 50 53 55 Pineapple 462 462 700 700 700 Pawpaw 1,716 1,716 3,432 3,432 3,432 Aquaculture Tilapia
1 2
112
22
90
180
270
Livestock
Sheep & Goat3 3,369 355 360 375 425 Dairy Goat - 20* 40 60 80 Dairy Cattle3 75,864 4,300 4,750 5,200 5,650
Pulses
Pigeon Peas Bodi
Tree Crops – Significant Impact will be from 2015 Backyard gardening 3 Livestock – significant impact will be from 2016
78 • Business Trinidad & Tobago
802 130 140 150 160 928 970 1,010 1,050 1,100 *Value
is estimated Source: National Food Production Action Plan 2012-2015