Global coconut profile opening huge opportunity for Caribbean economies. But will they seize it?

Coconut oil

What is being regarded globally as a breakthrough period for the coconut industry linked to skyrocketing demand for coconut water, oil and other products is being regarded as an opportunity for the region which it cannot afford to pass up.

For sure, global coconut production is dominated by the Asian continent and however much the coconut industry might grow in the Caribbean it cannot hope to match production levels in Asia. Coconut, however, brings other benefits to Caribbean economies including the opportunities which it provides in the vast agro processing sector afforded by the facility of the fruit and the export markets. More than that, the economic opportunities afforded by the coconut industry already play a significant role in poverty alleviation in some countries in the region by creating significant employment opportunities.

There is evidence that Caribbean Community (CARICOM) countries are beginning to take steps in the direction of capitalizing on the economic opportunities afforded by the coconut industry. Much of this has been triggered by the interest, backed by significant investment, that is being taken by companies like Pepsi and Coca Cola in coconut water as a world class beverage. Matching the interest in coconut water being shown by the beverage giants is that being demonstrated by the cosmetics and health industries in coconut oil…..

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