Faced with depressed sales for coffee companies, the Jamaica Agricultural Commodities Regulatory Authority, JACRA, which depends on the sectors it regulates for income, is cutting its budget amid expectations that its revenue inflows will be lower than projected.
The year-old commodities regulator responsible for overseeing the coconut, spices, coffee, and cocoa sectors launched operations in January 2018, imposing a schedule of fees to support its operations.
Fees are collected from growers, processors and non-agricultural traders. The cess on crops – turmeric, ginger, pimento, coffee, and cocoa – ranges from US$0.18 to US$2.40 per kilogramme, with coffee facing the highest charges.
“Given the issues in the coffee sector, income could be reduced by approximately $30 million or thereabouts, while expenditure could be reduced by approximately $8 million. This, however, is adequate for the operations of the institution,” said JACRA Chairman Dennis Boothe. more
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