-to penetrate international market, increase competitiveness
PRESIDENT Dr, Irfaan Ali on Monday urged regional distillers to form a collective mechanism to establish a marketing entity that could penetrate international markets.
The Guyanese Head of State who is also the current chairperson of the Caribbean Community (CARICOM) touted the initiative at the handing over of the Demerara Distillers Limited’s (DDL) Rum Blend on the occasion of the 50th Anniversary of CARICOM.
“One of the things I believe that the CARICOM distillers should do in celebration of their own integration in this 50th year is to come together to find ways in which collectively we can penetrate a regional brand carrying all our products in the international market,” President Ali said.
He stressed that the establishment of single marketing platform could improve the competitiveness of regional distillers.
“If we have one marketing cooperation, or one marketing entity, or one advertising entity that we collectivity hire to take our collective brand into new markets then the operational cost comes down, then the marketing costs comes down, the logistics cost comes down and improves our competitiveness.”
In 2022, Guyana exported almost US$35 million in bottled rum and spirits and in bulk alcohol, the country saw an export revenue of US$19.3 million.
He reminded of the industry’s critical link to the hospitality sector, while stressing the need for a collective marketing mechanism, to not only promote home grown, traditional products but also build the region’s competitiveness.
“The other aspect of the spirit is sometimes understated and that is the link to the hospitality sector. It is very important for us to understand that the rum industry is critically integrated into hospitality sector.”
Meanwhile, DDL Chairman Komal Samaroo, the local producer of CARICOM’s 50th Anniversary Rum Blend noted that the industry has solidified its footing in the regional and international markets.
“In the Caribbean in the rum industry, we all compete aggressively around the world for our piece of the market share but when it becomes a matter of common interest, we get together and do amazing things and that is why the rum industry has succeeded in an increasingly competitive global market space,” Samaroo said.
However, he noted that distillers must not become complacent as the market is becoming more competitive with producers becoming dominant.
“The Caribbean rum brands around the world are known to be the best in the rum category …but we must not be complacent. I think the gap is being narrowed very, very rapidly by Central America and by even Asian producers. We cannot afford to be complacent,” Samaroo lamented.
For CARICOM’s 50tth anniversary, 13 local producers collaborated to create a special blend. DDL curated a unique blend combing three of Guyana’s most historical rum blends into one bottle of tradition and history.
“This is also symbolic of CARICOM. Individually, we are all great countries but when we come together and make ourselves into one, we become absolutely outstanding and extraordinary,” Samaroo said.
Earlier this year, the Prime Minister of Saint Lucia, Philip J. Pierre, presented the new CARICOM 50th Anniversary Rum Blend from the Saint Lucia Distillers Group to President Ali.
