–as industry rakes in over $1.1B from exports during first six months of 2021

BETWEEN January 2021 and June 2021, Guyana’s coconut industry raked in US$5,319,868 million (GYD$1.1 billion) from the export of key outputs, according to figures provided by Agriculture Minister, Zulfikar Mustapha.

Examination of the figures shows that the export of coconut water alone has earned the country US$977,138, while the exportation of the coconut itself has brought in excess of US$4.3 million.
During a recent address to a forum organised by the International Coconut Community (ICC), Minister Mustapha said that Guyana’s coconut industry is a major income earner and a stimulant for development of some 1,800 farmers, who cultivate 24,000 acres of coconuts.

“Guyana produces annually an average of 92 million nuts per annum and has managed in the year 2017 to generate US$7 million from exports. This important sector, I must emphasise strongly, has tremendous potential for both improvement and expansion,” the Agriculture Minister told the ICC.

He said that due to the current high demand for coconut and its value-added products, Guyana has formulated a robust plan to replicate and, where possible, scale up coconut production.
“The potential benefits that can be derived from coconut production have open farmers’ eyes to the commercial opportunities that can support sustainability and lead to positive change,” Mustapha said.

He noted that consequently, the majority of coconut farmers have reaffirmed their interest in coconut production. To this end, the Ministry of Agriculture has embarked on several interventions geared at revitalising a number of coconut farms that have since been neglected and left in disarray.

Notwithstanding the challenges, Minister Mustapha recommitted the government’s intention to actively ensure that Guyana regains its status as a major coconut producer of the Caribbean and South America.

He said that over past few months, the National Agricultural Research and Extension Institute (NAREI) has made significant strides in relation to mobilising support for the coconut industry.
As a matter of fact, efforts are underway for the establishment of full-fledged Coconut Development Unit, which would focus on research and development; capacity building and participatory planning and implementation; integrated insect pest and disease management; quality, quantity and productivity improvement; post-harvest processing, product diversification and value addition, among other things.

The unit, once fully established, would pursue the development and adoption of technologies for management of insect pests and disease-affected coconut farms, as well as processing and product diversification. Emphasis would also be placed on market research and promotion.

He said that as it is, the People’s Progressive Party Civic (PPP/C) administration is currently working to change both the mindset and methods of farmers who produced products speculatively with no guaranteed markets.

“One of the main strategic objectives is to accelerate sustainable growth, productivity and employment by supporting agriculture productivity – in this case the coconut industry. This, is where, I strongly believe, the ICC can intervene with its vast resources of expertise to make this goal a reality,” Mustapha said.

Outside of the ICC, it would appear as though the private sector is also keen on supporting the growth of the coconut industry. It was only in May that a local coconut production company, Pomeroon Trading Inc., unveiled its plan to construct a US$8 million (GYD$1.7 billion) processing facility in Guyana.

A statement from the Agriculture Ministry had said that the company cultivates close to 35,000 seed nuts on about to 400 acres of land.

The company’s Chief Executive Officer (CEO), Duncan Turnbull, said during a previous engagement with Minister Mustapha that the company’s ultimate goal is to acquire more lands to expand their operations, as well as establish a processing facility.

“Once we have this facility set up, we would not only take produce from our farms, but from other farmers in the region. So far, we’ve invested approximately US$3 million since we started,” the businessman said.

He related: “In order to expand our cultivation and construct the processing facility, we would like to invest another US$8 million. We are currently engaging additional investors to buy into the project. We’re working very closely with the United States Government and USAID. If we can get those sums within the next six months, we would start straight away.”

The CEO also said that the company is currently exploring a joint venture with Trinidad and Tobago to export coconut water. In the immediate term, the company’s aim is to become U.S. Food and Drug Administration (FDA) certified, to be able to export their products to the United States.

Added to that, Minister Mustapha said that the Government of Guyana will continue to work with the Caribbean Community (CARICOM) to improve agricultural imports within the region.
“We are working aggressively to tap into the CARICOM market, which is a very large and lucrative market,” Minister Mustapha said previously.

Even with rising oil revenues, the government said that it will be working intently to improve agriculture and to ensure that the sector remains a critical income earning for the country. Outside of rice and sugar, coconut often maintains the agriculture sector’s third largest revenue stream.