The agricultural sector currently contributes 5.6 per cent to the Jamaican economy and employs and employs approximately 18.9% of the Jamaican labour force. However there are tremendous opportunities to expand production in both domestic and export markets.
Jamaica’s agricultural exports have generated foreign exchange earnings of some US$100 million (J$5 billion) per annum during the last five years with the bulk of these amounts coming from the United States (U.S.) and the United Kingdom (U.K.). The Government is currently taking steps to improve the sector’s efficiency and foreign exchange earnings potential, through the application of modern technology and diversification of its export base.
TRADE (MARKET) OPPORTUNITIES
TRADE (MARKET) OPPORTUNITIES
Industry sectors that represent growth opportunities include:
• Food processing industry: New technologies and innovations have led to increased production of value-added products for trade.
• Hospitality industry: There is a consistent and growing market for vegetables and fruits, peppers and spices.
• Ethnic and specialty foods (in particular Jamaican cuisine, which represents an area for incremental export growth in new markets and niche areas).
Products and sectors of highest potential in these industries are:
• Spices and herbal products
• Canned fruits and vegetables
• Ready-to-eat and ready-to-cook items
• Frozen foods
• Beverages, including juices, beers and rum
• Canned fruits and vegetables
• Ready-to-eat and ready-to-cook items
• Frozen foods
• Beverages, including juices, beers and rum
In order to facilitate the continued expansion and development of the industry, attempts are being made to generate investments in non-traditional target areas and markets that can support food and other types of processing as well as pharmaceuticals for export. Products which have demonstrated significant export potential include winter vegetables, marine shrimp, aloe vera and pimento. Opportunities are available to interested investors in the following areas:
• Bio-technology: Such technology would harness and commercialize existing natural resources, develop the area of organic farming, and improve the quality of existing crops
• Irrigation projects along the South Coast
Product categories of high potential include:
• Aquaculture: Large-scale production of marine and fresh water shrimp andfish is possible, not only for the local market but also for export based on our strategic location and market access.
• Irrigation projects along the South Coast
Product categories of high potential include:
• Aquaculture: Large-scale production of marine and fresh water shrimp andfish is possible, not only for the local market but also for export based on our strategic location and market access.
• Nutraceuticals: The international market for these products is growing and production has expanded through the increased cultivation of fruit trees, indigenous plants, extracts and value added herbal products that benefit from our unique folk culture knowledge.
• Ornamental horticulture and the farming of spices, herbs, and indigenous plants for food processing and the tourist industry.
EXPORT DEVELOPMENT PROJECTS
Jamaica Trade and Invest has selected the following strategic projects for support:
Flavours of Jamaica Project JTI is actively engaged in developing opportunities for Jamaican companies to leverage strong consumer demand for speciality foods in external markets. The project focuses on market entry and partnership opportunities for individuals or clusters of companies dealing with functional foods, nutraceutical ingredients, seasonings, condiments, spices, and other authentic Jamaican food and beverages. It involves the development and testing of market entry strategies for North America, Europe, and regional markets.
Linkages Programme
JTI has developed a strategic relationship with hotel chains within the country, and is working to establish a reliable supply chain to create access to the hotel market for Jamaican food and beverage suppliers. The project model has proven successful, and testing is currently being done in other supply areas such as furniture, fixtures and equipment, as well as general hotel supplies.
These - in addition to market access opportunities to the US, Canada, Caribbean, and Europe - combine to provide new trade opportunities for the prudent investor.
With a wealth of fertile land and access to expanses of ocean, Jamaica has not come close yet to reaching its potential in agricultural production. With the right level and type of investment, not only can Jamaica see its revenues from agriculture increase dramatically but investors will see healthy, sustainable returns, plus associations with quality products that are recognized and respected around the globe.
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