Sep 2016 Financial News

Jamaica smelling the coffee...exports up by 87 per cent

Sep 12, 2016

Jamaica recorded an impressive 86.9 per cent jump in coffee exports last year, amounting to US$25.2 million, compared with earnings of US$18.7 million the previous year.

That performance contributed the bulk of the overall US$28.5m earned from traditional export crops last year according to an announcement by Dermon Spence, chief technical director in the Ministry of Industry, Commerce, Agriculture and Fisheries.

Spence, who was speaking last week on behalf of his Minister Karl Samuda at the launch of the Mavis Bank Coffee Factory (MBCF) Preferred Farmers’ Programme in Mavis Bank, St Andrew, said Government was serious about providing the necessary support for the continued growth of the coffee industry.

He noted that total coffee production last year had increased by 10.4 per cent; banana by 6.3 per cent; and citrus by 4.4 per cent. On the contrary, cocoa output had declined by 44.8 per cent and sugar production by 11.6 per cent.

Coffee’s performance, Spence said, “is a clear indication that in spite of challenges…there is value and potential in the industry and rewards can be reaped”, noting that Jamaican coffee is among the world’s best. He also announced that most of the legislative work to facilitate the application of a cess on all imported coffee had been completed.

“In addition to that, we also want to place increased focus on the value-added component of the industry,” he said, challenging the Mavis Bank and the Blue Mountain brands to make this a reality through use of the aroma to make products such as spices, cakes, chocolates, sweets, ice cream, liqueurs, candles and beauty and spa products..

Spence assured the farmers that the Government would support them with the necessary training in best-farming practices through the Rural Agricultural Development Authority, so that the manufacturing sector could get higher-quality raw material for the production of high-value products.

The chief technical director commended Mavis Bank Coffee Factory for launching the programme and for achieving over $1.1 billion in sales last year. The MBCF is a purchaser, processor and exporter of Jamaican Blue Mountain coffee, which is supplied by some 4,500 farmers from the parishes of St Andrew, St Thomas and Portland.

Under the Preferred Farmers’ Programme, 100 farmers who were selected based on the amount and quality of beans delivered will receive several benefits to include advice on integrated pest management and good agricultural practices, discounts from retail and wholesale outlets, and eligibility for crop advances and loans at a preferred rate for farm development from the company.

Source:
Jamaica Observer
Monday September 12, 2016

http://www.jamaicaobserver.com/business/Jamaica-smelling-the-coffee--exports-up-by-87-per-cent-_73647