Prospects for the industry going forward

Raymond F. Trotz

By Raymond F. Trotz

ITC Liaison, Guyana: Coconut Industry Development for the Caribbean (CIDC)

 

It has been almost a year since the staging of Guyana’s first Coconut Festival and there have been many queries on its outcome and possible repetition.

First, it should be noted that the Festival cost its organizers a tidy sum which was met largely by goodwill and significant assistance from the then Ministry of Tourism.  A repetition of this this year is unlikely since the returns are not immediately visible.  On the other hand, there has been a tide of interest generated in the Coconut Sector which shows that it achieved its main objective of “Awakening the Sleeping Giant.”  This is evident in the growth and expansion of existing and potential Value Chains.  Several large investors are now pursuing objectives to fulfil their market demands and this trend is in keeping with the Value Chain method of stimulating production in response to concrete demands.  Pre-festival data showed the existence of about six active value chains, four of which were based in Region 2, one in Region 4, and one in Region 5.  Of the six, three were engaged in production of bottled coconut water targeting both local and export markets; the remaining three were focusing on production of refined and Virgin Coconut Oil (VCO).