[ad_1]
Peter McConnell, managing director of Commerce Winds Citrus Restricted, argues that agriculture wants higher entry to capital.
INTEREST in farming as a enterprise enterprise is rising amongst Jamaicans, with 66 per cent of shoppers expressing a want to discover agriculture, based on the Jamaica Chamber of Commerce (JCC) Enterprise and Client Indices Survey for the primary quarter of 2025.
The survey, which examined public and enterprise sentiment as a part of efforts to construct provide chain resilience by means of crop yield optimisation and climate-smart agriculture, factors to a altering notion of the sector, which has historically been seen as excessive danger and low return resulting from local weather vulnerability and market instability.
Of these surveyed, 34 per cent mentioned they had been “very ” in studying about farming, whereas 32 per cent had been “considerably ”, signalling renewed curiosity in agriculture as each a profession path and funding possibility.
“A major proportion of the folks we interviewed say they’ve various levels of curiosity in studying about farming and agriculture as a enterprise alternative,” mentioned government chairman of Market Analysis Providers Don Anderson through the survey’s presentation.
Nonetheless, there’s a noticeable divide between curiosity in agriculture and willingness to pay for environmentally sustainable farming practices. Whereas 42 per cent of shoppers imagine Jamaica’s present agricultural strategies have a constructive influence on local weather change, 47 per cent mentioned they weren’t keen to pay extra for produce grown utilizing environmentally pleasant practices. Amongst those that had been keen to pay a premium (34 per cent), 49 per cent mentioned it was as a result of they believed the meals can be more healthy and of higher high quality. Nonetheless, the most important barrier stays worth. Of those that mentioned no, 46 per cent cited excessive meals prices as the explanation.
When requested whether or not Jamaican farmers are able to undertake environmentally sustainable practices, 44 per cent of shoppers mentioned farmers are “considerably outfitted”, whereas 8.5 per cent mentioned “very effectively outfitted”. The remainder both believed farmers weren’t prepared or had been not sure.
On the enterprise facet, the sentiment was extra important. Solely 16 per cent of companies believed present farming strategies have a constructive local weather influence, whereas 41 per cent mentioned they’ve a unfavorable impact. Moreover, 57 per cent mentioned farmers aren’t outfitted to make the transition to sustainable practices, and 13 per cent mentioned “by no means outfitted”. That brings the whole share of companies that really feel farmers are unprepared to 69 per cent.
Relating to assist buildings, the hole is once more evident. Sixty-four per cent of companies mentioned there are not any present programmes particularly tailor-made to assist farmers undertake environmentally pleasant strategies, whereas 49 per cent imagine Jamaican companies aren’t offering sufficient assist to native farmers total. Regardless of this, there’s a robust want to vary the established order; 64 per cent of companies indicated they’re keen to assist native farming initiatives that promote sustainability.
“There are alternatives, and there’s an inclination to assist native farming,” mentioned Anderson. “In case you marry the 2, you must have a really constructive consequence.”
The survey additionally revealed a slight decline in total enterprise confidence for the primary quarter of 2025, with the index falling by 11 factors to 132.5. Nonetheless, the prevailing sentiment amongst agribusiness leaders, particularly inside the farming and agriculture business, is that it stays an excellent time to speculate, based on the survey, 71.4 per cent.
“Our purpose is to have pineapples obtainable 52 weeks a 12 months. That takes funding in know-how, and inside one other 12 months or two we’ll get there,” mentioned Peter McConnell, managing director of Commerce Winds Citrus Restricted, following the findings. “That very same mannequin must be utilized to different crops as effectively.”
Inconsistency in provide stays a key problem. Many enterprise operators mentioned that whereas they assist native farming, they usually resort to imports to fill gaps. McConnell means that one option to handle that is by means of the adoption of contemporary agricultural know-how, together with — however not restricted to — greenhouse farming. Nonetheless, entry to finance for farmers to spend money on know-how remains to be a typical problem cited about agroprocessors and is likely one of the largest limitations to remodeling agriculture.
“We’ve simply stopped borrowing,” McConnell added, revealing that Commerce Winds has as an alternative reinvested 70 per cent of its earnings again into the enterprise.
“We want higher appreciation for agriculture and simpler entry to capital. Regardless that agriculture carries danger, it’s attainable to mitigate that with know-how and higher buildings,” added Alicia Bogues, head of regional growth at CB Group.
She shared that small agribusinesses proceed to face problem securing loans, particularly when in comparison with different depreciating property like automobiles.
David Crum-Ewing, operations government at GraceKennedy Items and Providers, agrees, including that rates of interest ought to be versatile, as totally different crops require totally different timelines for yield and reimbursement.
And, on the matter of imports, McConnell proposed that solely farmers ought to be allowed to import short-supply crops as a means to make sure the sector stays viable.
[ad_2]
Source link
